Welcome,

The CEMLA is the regional association of Latin American and Caribbean central banks. Its main objective since 1952 is cooperation amongst its members in order to promote a better knowledge of monetary and financial topics in the region.

News

Capital Flows to Latin America: Policy Challenges and Responses
Presentation by Javier Guzmán C., CEMLA’s General Director, at the Conference International Capital Movements: Old and New Debates, jointly organized by the Banco Central de Reserva del Perú, the Reinventing Bretton Woods Committee and the Intergovernmental Group of Twenty-Four, held in Cusco, Peru, on July 19-20. This presentation was part of session IV on National, Regional and Global Responses.

Guatemala: Program for Application of General Principles for Remittance Markets
During 2009 Guatemala’s remittance inflows exceeded USD 4 billion and were equivalent to 10% of GDP, making Guatemala the fourth largest recipient of remittances in Latin America and the Caribbean. The Program for Application of General Principles for Latin American and the Caribbean Remittance Markets (General Principles) is the recommended reference guide for countries to improve the efficiency of services associated with remittance transfers from abroad. The document includes, among other things, an assessment for Guatemala of the situation of each of the five general principles for achieving safe and efficient international remittances services.

International Remittances in Ecuador
Remittances from abroad are of great importance to the economy of Ecuador and in particular to benefi ciary families. BCE data show that during 2004-07 these fl ows averaged an annual growth rate of 19%, but subsequently declined in 2008 and 2009. Thus, in 2009 remittances amounted to USD 2,495 million, resulting from 7.2 million transfers of an average value of 348 dollars. It is worth noting that this fi gure represented a 19.2% fall with respect to 2007 data. Remittance outfl ows from Ecuador, on the other hand, are low.

Coming activities 2010

• July 26-30
  Curso: Advanced Macro Finance
  Brasilia, Brasil

• July 27-29
  Seminar: Development Banks and Interest Rates
  Belo Horizonte, Brazil

• August 10-12
  Controlling and Budgeting at Central Banks
  Willemstad, Curacao, Netherlands Antilles

• August 16-20
  Course: Finance and Development
  Profesor Gerard Caprio
  Brasilia, Brazil

• August 16-20
  Course: Macroeconometrics for the Monetary Policy
  Montevideo, Uruguay

• August 31 to September 2
  Course and Workshop on Macroprudential Issues for Central Banks
  Mexico City, Mexico

Calendar of Activities 2010

Performed activities 2010
Documents presented in recent activities

• Seminario: PIB Trimestral
  Sto. Domingo, Rep. Dominicana

• IX Meeting on Central Banking Human Resources Management
  Salvador, Bahia, Brazil.

• Taller Regional: Estrategia de Deuda de Mediano Plazo
  México D.F., México

• XLVII Meeting of Central Bank Governors of the American Continent LXXXIX Meeting of Central Bank Governors of Latin America and Spain
  Buenos Aires, Argentina

• Seminar: Financial Education and Microfinance
  Asunción, Paraguay

• System of National Accounts
  México D.F., México

Other activities