Monetary Board appoints Olga Lucía Delgado del Hierro to the Central Bank

The Financial and Monetary Policy and Regulation Board entrusted the General Management of the Central Bank of Ecuador to Master Olga Lucía Delgado del Hierro, due to the vacation leave of the acting general manager, Master Jorge Alberto Ponce Donoso, between October 12 and 27, 2026, inclusive. The decision is contained in Resolution No. JPRFM-2026-046-A, signed in Quito on October 9, 2026, and published in Official Registry No. 394 on Wednesday, October 21, 2026, page 52.

The appointment was adopted in exercise of the powers that the Organic Monetary and Financial Code attributes to the Board as the highest governing body of the Central Bank: Article 13, numeral 3 of Article 17 —to appoint the General Manager and supervise their management— and numeral 6 of Article 25.1, which empowers the President of the Board to propose such a designation. The resolution is further supported by Article 127 of the Organic Law of Public Service, which allows the assignment of a position by written order of a competent authority, and Article 271 of its General Regulation.

A vacation that necessitated a new appointment

The trigger was Memorandum No. BCE-BCE-2026-0452-M, dated October 7, 2026, through which Ponce Donoso notified the President of the Board of the use of his vacation period from October 12 to 27. The document recalls that the Central Bank’s own Organic Statute of Organizational Management by Processes, approved by Resolution No. JPRFM-2026-031-A on July 17, 2026, assigns the Deputy General Manager the function of replacing the General Manager in cases of temporary absence.

The Board considered that, in light of this communication, it was appropriate to confer a new appointment to guarantee the continuity of the legal representation and the institutional direction and coordination provided for in Article 49 of the Organic Monetary and Financial Code. The immediate precedent is Resolution No. JPRFM-2025-013-A, dated November 27, 2025, which entrusted the General Management to Ponce Donoso, head of the Deputy General Management.

The reports that supported the decision

The file was processed in a few days and was documented in a chain of internal reports:

• Memorandum No. BCE-GAF-2026-1118-M, dated October 8, 2026: the Administrative Financial Management requested the legal opinion and the drafting of the resolution project.
• Technical Report No. BCE-SATH-0545-2026, dated October 8, 2026: the Sub-management of Human Talent Administration validated the profile of Delgado del Hierro and concluded that it meets the requirements of Article 14 of the Organic Monetary and Financial Code, applicable to the position by reference to Article 50.
• Report No. BCE-GJ-101-2026, dated October 8, 2026: the Legal Management ruled that the appointment is legally feasible for reasons of institutional continuity, the competence of the Board, and the favorable validation of the profile.
• Memorandum No. BCE-BCE-2026-0458-M, dated October 8, 2026: the General Management forwarded the complete file to the Board.

The matter was addressed in extraordinary session No. 021-2026, held under an electronic-asynchronous modality on October 9, 2026. The resolution also invokes Official Letter No. 07518, dated June 27, 2024, in which the Attorney General’s Office pronounced on the right to vacations of the acting authority and the organization of the internal appointment process.

Validity and scope of the appointment

The sole article of the instrument provides for two things: to acknowledge the vacation period reported by Ponce Donoso and to appoint Delgado del Hierro as acting General Manager. The final provision establishes that the resolution governs from its issuance, without prejudice to its publication in the Official Registry, and charges the General Secretariat of the Central Bank with its dissemination on the institutional website.

The text was electronically signed by the President of the Board, Master Gustavo Estuardo Camacho Dávila, and certified by the Technical Secretariat. Based on the publication date, the appointment corresponds to a vacation period that concludes on October 27, 2026, six days after the decision reached the Official Registry.

The handover affects the leadership of the body responsible for monetary and exchange rate policy and the legal representation of the Central Bank, in a scheme where the General Management had already been exercised in an acting capacity since November 2025. The late publication relative to the date of issuance implies that the change of command was officially known when the vacation period was well underway, which reinforces the interest of financial system operators in confirming who is leading the issuing institute at any given moment.

Source: Official Registry No. 394, Wednesday, October 21, 2026, section I, page 52 (official reference: Resolution No. JPRFM-2026-046-A).