Central American Monetary Council
Consejo Monetario Centroamericano (CMCA)
20 Mar 1964, on coming into effect of the Agreement for the Establishment of a Central American Monetary Union after ratification by signatory central banks, following its signature on 24 Feb 1964. From 25 Oct 1974, this a Agreement was replaced by T-XT7465 - Central American Monetary Agreement, subsequently modified on 22 Jan 1999. CMCA, which is also referred to as CONMONECA, comes within the framework of F-XF2858 - Central American Integration System and includes the former U-XF9696 - Central American Central Banks System and H-XD9031 - Central American Monetary Union.
By a permanent system of consultation, evaluate and coordinate macroeconomic policies of member countries, particularly monetary, credit and exchange policies which will progressively form the basis of monetary and financial regional integration; contribute to financial integration; improve and harmonize economic accounts and implement courses and other activities to enhance central banks' technical capacity.
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Council (meeting 3 times a year) comprises Presidents or alternate representatives of central banks of member countries. President elected annually from within the Council on a rotational basis. Executive Secretariat, headed by Executive Secretary and Executive Sub-Secretary. Advisory Committees of the Council (3), each comprising a representative and an alternate of each central bank: Monetary policy; Capital markets: Legal studies. Special Commissions (4): National Accounts; Monetary Accounts; Balance of Payments; Information and Technology Systems. Technical Committees (2): System of payments; Regional Standards.
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UN Sustainable Development Goals **
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