CGD in the News

Latin American Governments Should Ask China to Let Yuan Rise, Panel Says (Bloomberg)

November 23, 2010

Bloomberg mentioned Liliana Rojas-Suarez in an article on Latin American governments and Chinese currency.

From the article:

Latin American governments should press China to allow the yuan to rise to ensure their economies remain competitive as inflows cause their currencies to strengthen, a panel of former senior economic officials said.

Coordinated currency policies in Latin America and China would help all countries, the Latin American Shadow Financial Regulatory Committee said in a statement issued today in Lima.

“This reflects the growing importance the Chinese economy is having with respect to international trade flows in the region,” the committee said. The group’s chair is Liliana Rojas-Suarez, a former chief Latin America economist for Deutsche Bank AG; other members are Guillermo Calvo, former chief economist of the Inter-American Development Bank; and former Colombian Finance Minister Alberto Carrasquilla.

Latin American central banks should also consider buying foreign currency to reduce domestic money supply and prevent sharp movements in their local currencies, the group said.

Read the article.