Marcelo Zabalaga
Marcelo Zabalaga Estrada | |
|---|---|
| Born | August 1, 1953 Cochabamba, Bolivia |
| Occupation | Economist |
| Known for | Governor of the Central Bank of Bolivia (2010–2017), banking sector supervisor (2007–2009) |
Marcelo Zabalaga Estrada (born 1 August 1953 in Cochabamba) is a Bolivian economist who held the position of governor at the Central Bank of Bolivia (Banco Central de Bolivia - BCB) from 2010 until 2017, following Gabriel Loza Tellería.
Zabalaga obtained his undergraduate degree in economics from the University of Geneva and completed a master's degree in development studies in 1977 at the Graduate Institute of International and Development Studies. Additionally, he earned two further master's qualifications in social sciences and corporate banking management (Gerencia de Banca Corporativa), both awarded in Bolivia.
His career encompasses advisory and managerial roles on projects throughout Bolivia, Peru, Colombia, Brazil, Panama, Honduras, Nicaragua, Mexico, Spain, and Switzerland. His areas of specialization include education, social housing, microfinance, pension fund management, and financial regulatory frameworks.
Prior to his tenure at the central bank, Zabalaga directed multiple institutions such as FADES (Foundation for Alternatives in Development), FINRURAL (Association of Financial Institutions for Rural Development), as well as pension funds including AFP Futuro (Bolivia), Colfondos (Colombia), and Siembra (Argentina). He also served as head of FOLADE (Latin American Development Fund) in Costa Rica, PRODEL (Local Development Program) in Nicaragua, along with Asociación pro Banca Ética and Argentaria International in Spain.
From 2007 to 2009, he was appointed supervisor of Bolivia’s banking sector and financial institutions—currently known as Autoridad del Sistema Financiero (ASFI).
Cryptocurrencies ban
In 2014, Zabalaga endorsed legislation that prohibited cryptocurrencies within Bolivia. This measure generated legal disputes on the grounds that it impeded the country's advancement in blockchain technology relative to other nations in the region.