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FEATURE STORY June 30, 2021

RAMP Voices: Víctor Vásquez, Bank of Guatemala

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Meet: Víctor Vásquez, Bank of Guatemala

  • RAMP Voices is a series by the World Bank Treasury Reserve Advisory & Management Partnership (RAMP) that highlights members for their contributions to the Partnership.
  • Víctor Vásquez is Director of the International Department at the Bank of Guatemala, where he is responsible for the management of foreign exchange reserves.
  • Víctor likes most in his work the challenges of managing international reserves. He previously worked as the Deputy Director of the International Department.

What are the top three reasons your institution joined RAMP?

The Bank of Guatemala joined RAMP to strengthen and update the capacity of internal management, implement investment best practices, and access high-level training on international reserves management themes.

What do you appreciate most about RAMP?

We deeply appreciate RAMP’s advice and in-person support when implementing projects.

Name one lesson you have learned from another RAMP member?

We learned the value of fellowship. Participants have internally developed quantitative solutions, some with RAMP’s help, and have shared these solutions with other members.

What’s your favorite RAMP resource?

Our favorite resources are technical assistance, internships, and the transmission of knowledge among members who have had similar experiences and challenges.

What's your favorite workshop?

We have two favorites: (1) Advanced Techniques in Portfolio Management Workshop and (2) Mortgage Backed Securities: An In-depth Look for Reserves Managers Workshop.

"The Bank of Guatemala joined RAMP to strengthen and update the capacity of internal management, implement investment best practices, and access high-level training on international reserves management themes."
Víctor Vásquez
Director, International Department, Bank of Guatemala
UN Women/Ryan Brown

The mission of the Banco de Guatemala is to foster stability in the general level of prices.

Describe one of the most memorable moments working with RAMP.

My most memorable moments were the implementation of internal active management and futures contracts and when our MBS portfolio was approved and implemented.

Name the top three things with which RAMP has helped you, your team, or your institution.

RAMP helped us with the (1) development of internal skills for investment management, evaluation and control, (2) understand the benefits of segregation of functions and responsibilities, and (3) implement central bank investment strategies, diversification and strategic asset allocation.

Has your institution participated in the RAMP Survey on Central Bank Reserve Management Practices?

Yes.

Have you used the Benchmarking Analysis Tool? If so, what did you use it for?

No, not yet.

RAMP: The Reserve Advisory & Management Partnership

RAMP is a program developed within the World Bank Treasury that builds human capital, delivers asset management services, and convenes a network of practitioners—all in one.

What do you look forward to next in your work with RAMP?

We look forward to continuing to strengthen our management of international reserves as well as achieving our strategic objectives.

What’s the next product or service RAMP should offer?

I would like to see an assessment of a framework for ESG investments implementation by central banks and other investment options in high-quality assets.

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