On October 10, 2023, in Marrakech, Morocco, the CXV Meeting of Governors of Central Banks Members of CEMLA, and the sessions of the Board of Governors and the Center's Assembly took place.
The CXV Meeting of Governors was attended by Governors and officials of CEMLA member central banks. The discussion focused on the economic and financial outlook, with special emphasis on inflation. Speakers included the Vice President of the European Central Bank, Luis de Guindos, and the Governor of the Federal Reserve Board, Lisa Cook, who spoke on the subject in Europe and the United States, respectively. Also speaking for their countries or regions were the Governors of Banco de la República -Colombia, Leonardo Villar, Banco Central de Reserva del Perú, Julio Velarde, Banco Central de Reserva de El Salvador, Douglas Rodríguez, and Central Bank of the Bahamas, John Rolle. The meeting was moderated by the Governor of the Banco de España, Pablo Hernández de Cos, who chairs CEMLA's Board of Governors.
During the Board of Governors session, CEMLA's administrative, financial and operational aspects were reviewed, with emphasis on the 2024 Program of Activities, as well as the results of the "Rodrigo Gómez" 2023 Central Bank Award and the publications of the Latin American Journal of Central Banking.
CEMLA's Associate members, gathered in an Assembly, unanimously approved the appointment of Dr. Manuel Ramos Francia as CEMLA's Director General for a second term, from January 1, 2024 to December 31, 2028.
Tobias Adrian
Financial Counsellor and Director of the Monetary and
Capital Markets Department
International Monetary Fund (IMF)
Tobias Adrian is the Financial Counsellor and Director of the
Monetary and Capital Markets Department of the International
Monetary Fund (IMF). Prior to joining the IMF, Mr. Adrian was a
Senior Vice President of the Federal Reserve Bank of New York
and the Associate Director of the Research and Statistics Group.
Mr. Adrian has published extensively in economics and finance
journals, including the American Economic Review and the Journal
of Finance. His research spans asset pricing, financial
institutions, monetary policy, and financial stability, with a
focus on aggregate consequences of capital markets developments.
He has taught at Princeton University and New York University.
He is member of the editorial boards of the International
Journal of Central Banking and the Annual Review of Financial
Economics. Mr. Adrian holds a Ph.D. from the Massachusetts
Institute of Technology in Economics, an MSc from the London
School of Economics in Econometrics and Mathematical Economics,
a Diplom from Goethe University Frankfurt and a Maîtrise from
Dauphine University Paris. He received his Abitur in Literature
and Mathematics from Humboldtschule Bad Homburg.
Matías Ossandon Busch
Director, Financial Stability
CEMLA
Matias Ossandon Busch is Director of Financial Stability at the
Center for Latin American Monetary Studies (CEMLA) and Research
Fellow at the Halle Institute for Economic Research (IWH) in
Germany. He holds a PhD in Economics from the University of
Magdeburg and has been visiting researcher at the German
Bundesbank, at the Bank of England, and at the Norwegian Central
Bank, among other institutions. He has been also lecturer in the
fields of econometrics, corporate finance, and international
financial stability at the Universities of Magdeburg (Germany)
and Adolfo Ibáñez (Chile). His research focuses on the impact of
international banking and regulation on financial stability. He
is also Associate Editor of the Latin American Journal of
Central Banking.
Jorge Galán
Head of the Macroprudential Strategy Unit
Financial Stability Department, Banco de España
Jorge Galan joined Banco de España in 2015 and is currently the
Head of the Macroprudential Strategy Unit at the Department of
Financial Stability and Macroprudential Policy. At Banco de
España, Jorge has been responsible for the development of
cyclical risk indicators, the operationalization of
macroprudential instruments, and the assessment of
macroprudential policies. He has been a member of several
working groups at the European Systemic Risk Board, the European
Central Bank, and the Basel Committee of banking Supervision. He
holds a PhD from University Carlos III of Madrid and has
published several papers in academic journals on banking
efficiency, the identification of systemic risk, and the impact
of macroprudential policy.
Lucyna Gornicka
Senior Economist
European Central Bank (ECB)
Lucyna is a Senior Economist in the Prices and Costs Division at
the ECB. She is currently on leave from the IMF, where she
worked on a range of macrofinancial projects, including FSAPs
for Austria, Colombia and New Zealand. She holds a PhD from the
University of Amsterdam. Her research interests focus on
financial stability, monetary and macroprudential policy issues.
Her work has been published in the Journal of International
Economics, Journal of Banking and Finance, ant the Economic
Policy Journal.
Simon Lloyd
Senior Research Economist
Bank of England
Simon is a Senior Research Economist at the Bank of England,
working in both the International Directorate and the
Macroprudential Strategy and Support Division. He joined the
Bank in June 2017 after completing his PhD at the University of
Cambridge. Simon’s research interests span international and
monetary economics, and macro-finance. He has a particular
interest in global macroeconomic modelling and the analysis of
cross-border spillovers.
Eduardo Manuel
Economist
Bank of England
Ed is an Economist at the Bank of England, working in the
Macroprudential Strategy and Support Division. He joined the
Bank in September 2018 after completing his MSc at University
College London. Ed’s research focuses on international economics
and financial stability.
Thibaut Duprey
Director Financial Stability Model Development and Research
Bank of Canada
Thibaut Duprey is the Director of Model Development and Research
in the Financial Stability Department at the Bank of Canada. His
main interests include macro-financial linkages, banking theory,
systemic risks, financial crises, and the associated prudential
policies. In addition, he has contributed to the integration of
financial stability considerations in the monetary policy
framework. Before joining the bank, he was an economist at the
Financial Stability Directorate of the Banque de France. He
received his Ph.D. in Economics from the Paris School of
Economics.
María Victoria Landaberry
Head of the Financial Stability Department
Banco Central del Uruguay
María Victoria Landaberry is the Head of the Financial Stability
Department at the Central Bank of Uruguay. She has more than 10
years of experience working in the financial system. She is in
charge of the Program Area in Data Science, and a professor of
fundamentals statistics at UTEC. Ms. Landaberry has a background
in Economics and holds Master’s degree in International
Economics from the University of the Eastern Republic of
Uruguay. In 2021 she obtained the professional Master in Data
Science from the Technological University of Uruguay.
Rafael Nivin
Head, Department of Financial Research
Banco Central de la Reserva del Perú
Rafael Nivin is currently Head of the Department of Financial
Research in the Central Reserve Bank of Peru. Previously, he
works as a senior economist in the Department of Macroeconomic
Modelling at the Central Reserve Bank of Peru. He holds a MSc
and a PhD in Economics from the University of Illinois at
Urbana-Champaign (USA) and Diploma in International Economic
Research from the Kiel Institute for the World Economy
(Germany). His research is related to macrofinancial risks to
financial stability and the effects of macroprudential policy.
Tobias Adrian
Consejero Financiero y Director del Departamento de Mercados
Monetarios y de Capital
Fondo Monetario Internacional (FMI)
Tobias Adrian es Consejero Financiero y Director del Departamento de
Mercados Monetarios y de Capital del Fondo Monetario Internacional
(FMI). Antes de incorporarse al FMI, el Sr. Adrian fue
Vicepresidente Senior del Banco de la Reserva Federal de Nueva York
y Director Asociado del Grupo de Investigación y Estadística. El
señor Adrian ha publicado extensamente en revistas de economía y
finanzas, como la American Economic Review y el Journal of Finance.
Su investigación abarca la fijación de precios de los activos, las
instituciones financieras, la política monetaria y la estabilidad
financiera, centrándose en las consecuencias agregadas de la
evolución de los mercados de capitales. Ha enseñado en la
Universidad de Princeton y en la Universidad de Nueva York. Es
miembro de los consejos de redacción del International Journal of
Central Banking y del Annual Review of Financial Economics. El Sr.
Adrian es doctor en Economía por el Instituto Tecnológico de
Massachusetts, tiene una maestría en Econometría y Economía
Matemática por la London School of Economics, un diploma de la
Universidad Goethe de Frankfurt y una maestría de la Universidad
Dauphine de París. Obtuvo su Abitur en Literatura y Matemáticas en
la Humboldtschule Bad Homburg.
