Pedro Tinoco
Pedro Tinoco | |
|---|---|
| Born | 1927 |
| Died | 1993 |
| Nationality | Venezuelan |
| Occupation(s) | Entrepreneur, politician, lawyer, lecturer |
| Years active | 1969–1993 |
| Known for | Finance Minister of Venezuela (1969–1972), President of the Central Bank of Venezuela (1989), chairman of Banco Latino (1975) |
Pedro Tinoco (1927–1993) was a prominent Venezuelan entrepreneur and political figure.
Career
From 1969 to 1972, Tinoco held the position of Finance Minister during the administration of President Rafael Caldera. In 1975, he assumed the role of chairman at the Board of Banco Latino and was recognized as one of the influential group known as Carlos Andrés Pérez's "Twelve Apostles".
In 1989, Tinoco stepped down to take on the presidency of the Central Bank of Venezuela. His period in office was marked by the deregulation of interest rates combined with limited oversight of banking institutions. Banco Latino, which had been the central bank’s largest debtor in 1988, expanded from being Venezuela’s fifth-largest bank to the second-largest, yet it ultimately became the first to collapse during the Venezuelan banking crisis of 1994.
Tinoco participated in the 1973 Venezuelan presidential election, asserting he had backing from Marcos Pérez Jiménez, but ended up receiving under 1% of the total votes.
Additionally, he lectured on Public Finance and Political Economy at Universidad Central de Venezuela.
As the son of Pedro Tinoco Smith, who served as Minister of Interior between 1931 and 1935, Tinoco Jr. inherited his father’s law practice, Escritorio Tinoco, founded in 1914, and developed it into a leading firm within Venezuela’s legal sector.