Julio Suárez Explained

Julio Roberto Suárez Guerra
Office:President of the Bank of Guatemala
Term Start:1 October 2014
Term End:30 September 2018
Predecessor:Edgar Barquín
Successor:Sergio Francisco Recinos Rivera
Alma Mater:Universidad de San Carlos de Guatemala

Julio Roberto Suárez Guerra is a Guatemalan banker who served as the president of the Bank of Guatemala from 1 October 2014 to 30 September 2018. He spent the majority of his term detained, relating to a large-scale fraud case, of which he was cleared on appeal in July 2019.[1]

Career

Suárez obtained a degree from the Universidad de San Carlos de Guatemala.[2] From 2002 to 2005 he worked for the Central American Bank for Economic Integration.[3] Suárez also worked as the Guatemalan representative to the International Monetary Fund.[2] Suárez served as Vice President of the Bank of Guatemala from 2006 until his appointment as President per 1 October 2014.[3] He succeeded Edgar Barquín.[2]

On 20 May 2015 Suárez was arrested together with fifteen others on accusations of fraud, illegal charging of commissions, illicit association and influence peddling.[4] [5] Suárez himself was accused of fraud.[4] The accusations were linked to the awarding of a contract to the Empresa Farmaceútica Pisa de Guatemala with services to the Guatemalan Social Security Institute, in which the accused were suspected of receiving kickbacks.[5] Suárez spent 3,5 years in detention before his trial commenced.[6] On 26 September 2018 he, and eleven others, were convicted of fraud and sentenced to six years and 3 months imprisonment.[7] On 5 July 2019 an appeal led to the clearing of the charges against Suárez.[1]

Suárez's term in office as President of the Bank of Guatemala ended on 30 September 2018, he was succeeded by Sergio Francisco Recinos Rivera.[8]

Notes and References

  1. Web site: Willian Cumes, Nimsi Rosales, Keneth Monzón . Sala anula sentencia y absuelve a 5 exdirectivos del Seguro Social en caso IGSS Pisa Chiquimula . https://web.archive.org/web/20191204202603/https://www.prensalibre.com/guatemala/justicia/sala-anula-sentencia-y-absuelve-a-5-exdirectivos-del-seguro-social-en-caso-igss-pisa-chiquimula/ . Spanish . Prensa Libre . 5 July 2019 . 4 December 2019.
  2. Web site: Michael D. McDonald . Julio Suarez Picked to Lead Guatemala's Central Bank . Bloomberg Business . 18 September 2014 . 23 May 2015.
  3. Web site: Julio Suárez appointed next Bank of Guatemala President . Central Banking.com . 22 September 2014 . 23 May 2015.
  4. Web site: Caso IGSS: 17 capturas, entre ellas la del Presidente del Banguat . Spanish . Soy 502 . 20 May 2015 . 25 May 2015.
  5. Web site: Jude Webber . Guatemala's central bank chief arrested . Financial Times . 21 May 2015 . 23 May 2015.
  6. Web site: Glenda Sanchez . Julio Suárez y los mil 278 días en prisión preventiva . https://web.archive.org/web/20180924120056/https://republica.gt/2018/09/23/julio-suarez-y-los-mil-278-dias-en-prision-preventiva/ . Spanish . República . 23 September 2018 . 24 September 2018.
  7. Web site: Kenneth Monzón . Condenan a 12 y absuelven a nueve en caso IGSS Pisa Chiquimula . https://web.archive.org/web/20190728220459/https://www.prensalibre.com/guatemala/justicia/tribunal-emite-sentenicia-del-caso-igss-pisa-chiquimula/ . Spanish . Prensa Libre . 26 September 2018 . 28 July 2019.
  8. Web site: Presidentes . Spanish . Bank of Guatemala . 4 April 2020.