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Board of Directors

The Board of Directors of the Central Bank of Uruguay is composed of three members appointed in accordance with article 187 of the Constitution of the Republic.  The Directors are selected based on their personal and professional background and expertise to ensure independence of criteria, efficiency, objectivity and impartiality in their performance.

Mario Bergara - President

Mario BergaraPhD in Economy from the University of California, Berkeley.  He is an Economist and Public Accountant having studied at the School of Economic Sciences and Management (Facultad de Ciencias Económicas y de Administración) at the University of the Republic of Uruguay (Universidad de la República).
He is a Professor Grade 5 in Theory of Contracts, Economy of Regulation and Banking Microeconomics at the Economics Department, School of Social Sciences of the University of the Republic.  He also teaches courses regularly in Argentina, Peru, Cuba and Paraguay. 

Mr. Bergara has published books and articles on institutional economics, public service regulation and bank economics at national and international levels.  He has also directed projects in these areas, sponsored by the World Bank, the Inter-American Development Bank, and the United Nations Development Program.
He was awarded the Elise and Walter A. Haas International Award from the University of California, Berkeley.
Previously, he was Head of Economic Studies of the Central Bank of Uruguay, Director of Regulatory Unit of Communication Services (2001-2005), Undersecretary of the Ministry of Economics and Finance (2005-2008), President of the Central Bank of Uruguay (November 2008 – December 2013) and Minister of Economy and Finance (December 2013 – February 2015).

Jorge Gamarra – Vice President

Jorge Gamarra PhD in Law and Social Sciences.  Graduated in 1981 from the School of Law and Social Sciences (Facultad de Derecho y Ciencias Sociales) of the University of the Republic of Uruguay (Universidad de la Republica Oriental del Uruguay). He practiced law independently until 1984 when he started working as a lawyer at the Pan de Azucar Bank (Banco Pan de Azucar) as Chief of the Legal Section until 1988, and then the Bank of Credit (Banco de Credito) in the same position.  In 2006, he began working at the Legal Office of the Bank of the Republic (Banco de la Republica Oriental del Uruguay).  In November of 2008, he was appointed Director of the Central Bank of Uruguay (Banco Central del Uruguay).  He has been Vice President of the Bank since 2010.

Mr. Gamarra taught classes on Law of Obligations and Civil Liabilities at the University of Montevideo between 1999 to 2009.  He has published various magazine articles focusing on private law.

Washington Ribeiro - Director

Washington Ribeiro In 1999 he obtained his degree in Economics from the School of Economics (Facultad de Ciencias Económicas), of the University of the Republic (Universidad de la República).
He has worked as an independent consultant authoring reports on national and international economic issues, as well as elaborating and evaluating investment projects.  He was a member of the Council of the Foundation for Democracy Wilson Ferreira Aldunate (Consejo de la Fundación para la Democracia Wilson Ferreira Aldunate) acting as Secretary until March 2010.  He was appointed for the first time Director of the Central Bank of Uruguay on June 28, 2010.