• Replaces Emma Navarro, who will be appointed Vice President of the European Investment Bank (EIB)

The Council of Ministers has appointed Fernando Navarrete as Secretary General of the Treasury and Financial Policy, at the proposal of the Minister for the Economy, Industry and Competitiveness, Román Escolano. Navarrete replaces Emma Navarro, who will be appointed Vice President of the European Investment Bank (EIB). Navarrete has a degree in Economics with an extraordinary end-of-course award from the Complutense University of Madrid and a Certified Economist from the Bank of Spain on leave of absence. From January 2012 until his appointment, he has served as CEO of the Official Credit Institute (ICO), where he has carried out tasks associated with the financial and strategic management of the entity. Previously, he had developed his work activity at the Bank of Spain, between 2002 and 2007, and as director of the FAES Department of Economics and Public Policies, between 2007 and until his arrival at ICO.

The General Secretariat of the Treasury and Financial Policy is a body attached to the Ministry of Economy and Business Support of the Ministry. In addition to managing the State's financing strategy, many national and international tasks fall under its tutelage. Among the former, the management, development and organization of financial policy stands out, including the preparation and processing of regulations in the financial field; powers to prevent money laundering and terrorist financing; o monitoring and analysis of the evolution of financial institutions and markets.

Among the international tasks, the coordination of the Spanish position in different European and Eurozone forums in the financial, monetary and economic fields, including the ESM, the European Investment Bank, as well as the representation of Spain in the Economic Committee stand out. and EU Finance, in the Eurogroup working group and in various technical committees, in organizations such as the International Monetary Fund and the G20, among others.

In 2018, the Treasury plans to issue debt with a gross value of more than 221,000 million euros. Its financing strategy is prudent and is based on three fundamental pillars: lengthening the average life of the debt, diversifying the investor base and reducing financing costs. Likewise, it is also carrying out important work on the transposition of European directives of a financial nature and will develop pioneering regulations at the European level in the field of Fintech.

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