Marcelo Zabalaga
Marcelo Zabalaga Estrada is a Bolivian economist. He was the governor of the Central Bank of Bolivia from 2010 to 2017. He took over after Gabriel Loza Tellería.
Zabalaga holds a bachelor's degree in economics from the University of Geneva and a master's degree in development studies in 1977 from the Graduate Institute of International and Development Studies. He later also took obtained two other master's degrees; in social sciences and in banking, both of which he pursued in Bolivia.
He has worked and advised in Bolivia, Peru, Colombia, Brazil, Panama, Honduras, Nicaragua, Mexico, Spain and Switzerland, in areas such as education, social housing, microfinance, pension funds and financial regulations.
Before joining the central bank, he led several different companies, including the foundation FADES, FINRURAL, the pension funds AFP Futuro in Bolivia, Colfondos in Colombia and Siembra in Argentina. He has led FOLADE in Costa Rica, PRODEL in Nicaragua and Asociación pro Banca Ética and Argentaria International in Spain.
In 2007, he was appointed supervisor of the banks and financial institutions of Bolivia, today known as the Autoridad del Sistema Financiero. He held this position until 2009.