Paraguay’s central bank president calls for new powers

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Paraguay

Carlos Fernández Valdovinos, the president of the Central Bank of Paraguay, yesterday argued in favour of new legislation that allows for financial regulation "to quickly adapt itself to the business sector dynamic and the risks inherent to it".

In a seminar held at the central bank on Tuesday, Valdovinos stressed the legislation underpinning the central bank and its operations is almost 20 years old and needs to be updated.

"It's essential to provide greater regulatory powers to the Central

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