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
XLVI Meeting of Central Bank Governors of the American Continent LXXXVII Meeting of Central Bank Governors of Latin America and Spain
Under the presidency of Héctor Valdez Albizu, Governor of the Central Bank of Dominican Republic , the representatives analysed international economic and financial outlooks, the current world economy, policies applied by the countries within the framework of the crisis and future risks. The speakers referred to the role of the central banks in the financial crisis, analysed the Latin American situation, and warned about the shift in the characteristics and sources of funding for the regional economies. The experts agreed that the crisis found a better-prepared region than in previous occasions, but they admitted that Latin America would still be affected by an undermined world economy whose recovery will be gradual. The meeting was held on May 14th and 15th in Punta Cana, and it featured the characteristic hospitality and kindness of the Dominican hosts.
Within the frame of the XLVI Meeting of Central Bank Governors, Board of Governors and Assembly of CEMLA in Punta Cana.
As anticipated, the Assembly of the Centre for Latin American Studies (CEMLA) took place in Dominican Republic. Under the presidency of Peru’s Governor, Mr Julio Velarde, the Assembly approved the appointment of a new Governing Board for the 2009-2011 period. The unanimously appointed Governing Board is now constituted by the following countries:
Member Country
Associate Countries Represented
Mexico
Mexico
Argentina
Argentina and Uruguay
Brazil
Brazil and Bolivia
Venezuela
Venezuela y Cuba
Nicaragua
Guatemala, Costa Rica, El Salvador, Haiti, Honduras, Nicaragua, Dominican Republic
The new Board unanimously chose Mr José Darío Uribe, President of the Bank of the Republic of Colombia, as the new President for the May 2009-May 2010 period. The Centre for Latin American Studies also approved the above-mentioned appointment.
Report of Activities
Among other subjects, the outgoing Board of Governors approved CEMLA’s Report of Activities and Financial Results for the year 2008 presented by the Director General. Other initiatives were also approved, such as the one to support further training for officers. Finally, the Board urged the central bank members to be actively involved in the recently designed Human Resources Database of the Central Banks. In this opportunity, CEMLA also presented to the Governors and Representatives the progress of one of its programs concerning the Inter-American Frame for Payments after the recent experience of Banco de Mexico and the Federal Reserve of Atlanta and anticipated some aspects of the Meeting on Economic and Financial Education to be held in Bogota. It was also reported that CEMLA had been invited to preside the Group of Technical Assistance in the context of a recent initiative launched by Bretton Woods’ organisms (World Bank and International Monetary Fund) known as Debt Management Service.
