Central Bank and National Congress: a look at the mechanisms of redemption of accounts

Authors

  • Sebastian Soto Velasco Universidad Católica de Chile

Abstract

This document analyzes various contact and accountability mechanisms between the National Congress and the Central Bank. To do this, it first focuses on the scope of the autonomy of central banks and the importance of these types of institutions being accountable to public opinion. Then the investigation goes on to analyze various mechanisms that are used today to make effective the responsibility of the issuing entity and its members in the fulfillment of their functions. The process of nominating advisers, the reports in the Senate and the Chamber of Deputies, the sending of information letters by congressmen and the grounds for removal of their advisers are, in the author's opinion, mechanisms in force and used to make of the Central Bank an autonomous entity but qualified to render accounts.

Keywords:

Central Bank, National Congress, Accountability