Pedro Tinoco

Pedro Tinoco (c. 1928–1993[1]) was a Venezuelan businessman and politician.

Pedro R. Tinoco, Jr.
Minister of Finance of Venezuela
In office
1969–1972
PresidentRafael Caldera
Preceded byFrancisco Mendoza
Succeeded byLuis Enrique Oberto
Personal details
Born1928
Died1993
NationalityVenezuelan

Tinoco was Minister of Finance from 1969 to 1972, under President Rafael Caldera. He was then Chairman of the Board of Banco Latino from 1975,[2] and one of Carlos Andrés Pérez's "Twelve Apostles".[3]

He resigned in 1989 to take on the presidency of the Central Bank of Venezuela.[4][5] Under Tinoco's chairmanship of the central bank, interest rates were liberalised with little effective banking supervision, and Banco Latino, which in 1988 was the central bank's largest debtor, went from the country's fifth-largest to second-largest bank.[6] Banco Latino was the first bank to fail in the Venezuelan banking crisis of 1994.

He was a candidate in the 1973 Venezuelan presidential election, in which he was one of four candidates claiming the backing of Marcos Pérez Jiménez;[7] he won less than 1% of the vote.

Pedro Tinoco was also a professor of Public Finance and Political Economy at Universidad Central de Venezuela.

Tinoco was the son of the Pedro Tinoco Smith who was Minister of Interior (1931–35) in the government of Juan Vicente Gómez. Tinoco Sr created the law firm Escritorio Tinoco in 1914; Tinoco Jr would later take over the firm and along with his partners make it "a powerful player in the Venezuelan legal market".[8]

References
  1. Jennifer McCoy, David J. Myers. The unraveling of representative democracy in Venezuela, JHU Press, 2004. p83
  2. http://www.bancolatino-venezuela.info/anexo65.html
  3. Fernando Coronil. The magical state: nature, money, and modernity in Venezuela, University of Chicago Press, 1997. p247
  4. "Galería de Expresidentes | Banco Central de Venezuela". www.bcv.org.ve.
  5. Anabella Frontado Carrasco, “BANKING CRISIS IN AN UNDERDEVELOPED COUNTRY”, 2003.
  6. Javier Corrales. Presidents Without Parties: The Politics of Economic Reform in Argentina and Venezuela in the 19902, Penn State Press, 2002. p164
  7. Sarasota Journal, 5 December 1973, "Venezuelans Elect President Sunday", p14D
  8. Manuel A. Gomez 2008. Greasing the Squeaky Wheel of Justice: Networks of Venezuelan Lawyers from the Pacted Democracy to the Bolivarian Revolution, Florida International University Legal Studies Research Paper No. 08-02. p4
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