The Central Bank of Paraguay has formally installed Rodrigo Sebastián Ruiz Morel as head of the Securities Superintendency, using the handover to outline the regulator’s near-term priorities for the country’s capital markets. Ruiz Morel framed the task around consolidating a securities market that has expanded rapidly, citing growth in stock market business from 0.15% of gross domestic product to 15% of the economy by the end of 2024. He identified deeper liquidity, stronger technological and operational infrastructure, a broader investor base, and better transparency and governance as the main challenges. To address them, he set out a roadmap built on three pillars: transparency and modernization, an orderly legal framework, and institutional strengthening. The central bank and finance ministry also tied the appointment to broader efforts to support the development of Paraguay’s securities market. Before taking the post, Ruiz Morel served as superintendent for regulation and registries within the Securities Superintendency and spent 14 years at the Central Bank of Paraguay, including work on credit, liquidity and market risk supervision and regulatory initiatives.
Central Bank of Paraguay2025-02-06
Central Bank of Paraguay installs Rodrigo Ruiz as Securities Superintendent and sets out a three pillar market development agenda
The Central Bank of Paraguay has sworn in Rodrigo Sebastián Ruiz Morel as head of the Securities Superintendency. He used the appointment to set priorities for the market regulator, focusing on liquidity, infrastructure, investor base expansion, transparency and governance under a three pillar agenda of modernization, legal order and institutional strengthening. Ruiz Morel said the securities market has grown from 0.15% of gross domestic product to 15% of the economy by the end of 2024.