CVII Meeting of Central Bank Governors of CEMLA

On 29 and 30 April, 2019, the CVII Meeting of the Central Bank Governors of CEMLA was held in Cartagena de Indias, Colombia. The Meeting was hosted by the Banco de la República, represented by its Governor, Mr. Juan José Echavarría. Following the opening and welcoming remarks offered by Governor Echavarría and the Director General of CEMLA, Manuel Ramos-Francia, the sessions of analysis and debate began.

The first session on World Economic and Financial Outlook, featured presentations by Pablo Hernández de Cos, Governor, Banco de España; Mario Marcel, President, Banco Central de Chile; Julio Velarde, President, Banco Central de Reserva del Perú; and Manuel Ramos-Francia, Director General of CEMLA.

During Session II, Alejandro Díaz de León, Governor, Banco de México; Tiago Berriel, Deputy Governor, Banco Central do Brasil; and Manuel Ramos-Francia, Director General of CEMLA, made presentations on the Effects of the International Outlook on Regional Asset Prices, Sovereign Risk and Capital Flows.

Following, Tiago Berriel, Deputy Governor, Banco Central do Brasil, presented the Topics under discussion in the G20. The next session, on the Effects of the International Outlook on Terms of Trade, was addressed by Mario Marcel, President, Banco Central de Chile; Rodrigo Cubero, President, Banco Central de Costa Rica; Julio Velarde, President, Banco Central de Reserva del Perú; and Juan José Echavarría, Governor, Banco de la República.

At Keynote Session 1, Andrés Velasco, Dean, School of Public Policy, London School of Economics, approached the topic Populism: Economic and Political Implications.  

Keynote Session II, which had Hyun Song Shin, Economic Adviser and Head of Research, Bank for International Settlements, as speaker, encompassed the topic Distributed ledger technology and large value payments: A global game approach.

In the last session, before the closing of the meeting, Pablo Hernández de Cos, Governor, Banco de España; Alejandro Díaz de León, Governor, Banco de México; and Serafín Martínez, Advisor, CEMLA, dealt with the topic FinTech Regulation.

In the end, Governor Echavarría offered the closing remarks and thanked the participants for having attended the Meeting. Within the framework of the event, the Meetings of the Board of Governors and the Assembly of CEMLA were also held.

Opening Ceremony and Welcoming Remarks
Juan José Echavarría, Gerente General, Banco de la República

Manuel Ramos-Francia, Director General, CEMLA

Session I: World Economic and Financial Outlook

Speakers:

Pablo Hernández de Cos, Governor, Banco de España
Mario Marcel, President Banco Central de Chile
Julio Velarde, President, Banco Central de Reserva del Perú
Manuel Ramos-Francia, Director General, CEMLA

International Outlook and Effects on Economies

Session II: Effects of the International Outlook on Regional Asset Prices, Sovereign Risk and Capital Flows

Speakers:

Alejandro Díaz de León, Governor, Banco de México
Tiago Berriel, Deputy Governor, Banco Central do Brasil
Manuel Ramos-Francia, Director General, CEMLA

Session III: Topics Under Discussion at the G20

Speakers:

Tiago Berriel, Deputy Governor, Banco Central do Brasil

Sesión IV: Efectos de la coyuntura internacional sobre los términos de intercambio

Speakers:

Mario Marcel, President, Banco Central de Chile
Rodrigo Cubero, President, Banco Central de Costa Rica
Julio Velarde, President, Banco Central de Reserva del Perú
Juan José Echavarría, Governor, Banco de la República

Keynote Session 1: Populism: Economic and Political Implications

Andrés Velasco, Dean, School of Public Policy, London School of Economics

"Rodrigo Gómez" Central Bank Award Session: Presentation of the paper "Conditional Exchange Rate Pass-through: a DSGE Model Approach"
Mariano Joaquín Palleja, winner of the "Rodrigo Gómez" Award, 2018 edition

Meeting of the Board of Governors of CEMLA

Central Bank Challenges

Keynote Session 2: Distributed ledger technology and large value payments: A global game approach

Hyun Song Shin, Economic Adviser and Head of Research, Bank for International Settlements

Session V: FinTech Regulation

Speakers:

Pablo Hernández de Cos, Governor, Banco de España
Alejandro Díaz de León, Governor, Banco de México
Serafín Martínez, Advisor, CEMLA

Closing Remarks
Juan José Echavarría, Governor, Banco de la República

CEMLA Assembly Meeting