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CGD's weekly Global Prosperity Wonkcast, event videos, whiteboard talks, slides, and more.

A New Liquidity Fund for Latin America -- Liliana Rojas Suarez

1/23/13

Last month members of the Latin American Shadow Financial Regulatory Committee (CLAAF) convened at CGD to discuss fiscal and monetary issues affecting the region. The claaf, which meets here twice a year, usually offers policy and regulatory recommendations for finance ministers and central bankers in the region. This time the committee proposed something quite different: the five-page statement claaf issued after two days of deliberation recommended the creation of a new regional financial institution—a Latin American Liquidity Fund, to supplement the efforts of the International Monetary Fund (IMF) when the next global financial crisis hits.

Rethinking Monetary, Regulatory, and Financial Policies in the Midst of the Global Crisis – Liliana Rojas-Suarez

5/29/12

On May 22nd, members of the Latin American Shadow Financial Regulatory Committee (CLAAF), convened at CGD to discuss some of the most pressing fiscal and monetary issues affecting Latin American economies. The result of the committee’s two-and-a-half-day-long discussion was a four page statement and several clear recommendations for rethinking financial policies in the midst of a global crisis.

Latin American Lessons from the 2008 Financial Crisis – Liliana Rojas-Suarez

3/6/12

Liliana Rojas-Suarez

Conventional wisdom has it that when the United States catches a cold, Latin America gets pneumonia. But when the United States caught financial pneumonia in 2008, Latin America escaped with little more than a cold. What’s changed?  

In this week’s Wonkcast, CGD senior fellow Liliana Rojas-Suarez explains why Latin America was mostly successful in coping with the fallout from the 2008 global financial crisis and she introduces a new methodology for predicting how countries will fare in the next global financial crisis. Our conversation draws on her new working paper, Credit at Times of Stress: Latin American Lessons from the Global Financial Crisis, written jointly with Carlos Montoro of the Bank for International Settlements (BIS).

The Debt Cap Showdown and the Developing World: Liliana Rojas-Suarez

7/19/11

Liliana Rojas-Suarez

The American media is abuzz with stories of doom and gloom as tensions mount over stalled efforts to raise the U.S. debt ceiling. Europe, meanwhile, has its own debt woes, with mounting fears that a default in Greece could spill over into Ireland, Portugal and Spain. So far, however, there has been relatively little discussion about what these twin crises would mean for the 5 billion people living in developing countries. Sadly, those with the least influence over the issue could pay the highest price.

On this week’s Wonkcast, I invite senior CGD fellow and global finance expert Liliana Rojas-Suarez to explain why it’s important to the rest of the world that Europe and the United States put their financial affairs in order. The showdown in the U.S. is especially worrying, Liliana says, because of the U.S. dollar’s role as the international reserve currency.

 

Avoiding a Credit Bubble in Latin America (Wonkcast)

6/20/11

CLAAF 2011

For now, the future for Latin America looks bright. Confidence is high throughout the region after a strong rebound from the global financial crisis. But large and possibly volatile inflows of capital could lead to a credit bubble if regulators don’t take steps now to slow the large flood of hot money. In this edition of the Wonkcast I interview three members of the Latin American Shadow Financial Regulatory  Committee (CLAAF), a group prominent South American economists who meet twice yearly to offer advice to the region’s regulators and policymakers. Our focus is the group’s latest statement, which urges unconventional measures for extraordinary times.

Macroprudential Regulation and Developing Countries: Liliana Rojas-Suarez

3/7/11

Liliana Rojas-Suarez

Regulators at the Bank for International Settlements in Basel, Switzerland, are hard at work designing regulatory standards to avoid future financial meltdowns like the global financial crisis of 2008. Joining them for two months is Liliana Rojas Suarez, a CGD senior fellow and the founding chair of the Latin American Shadow Financial Regulatory Committee.

I spoke with Liliana just before she left for Basel about macroprudential regulation—an approach that focuses on the systemic risks arising from the interaction among banks and other financial institutions. (Liliana had spoken about this at a recent CGD Research in Progress staff meeting; her slides are a useful adjunct to our Wonkcast discussion.)

Five CGD Experts on the Seoul G-20 Summit

11/8/10

G-20 SeoulG-20 leaders gathering in Seoul this week face a full plate of issues, most prominently the effort to stave off beggar-thy-neighbors currency devaluations. This week on the Global Prosperity Wonkcast, we've distilled highlights from a private briefing I organized where five CGD experts shared their views on key issues facing the G-20, and their implications for poor people not represented at the table. Snippets below—listen to the full 30-minute Wonkcast for the rest of the story or scroll to the bottom of this page for full event video. If you'd like a bit of historical background on the G-20 and how it came into its current role, listen to my introductory remarks (they're about 6 minutes long) that give some context for the rest of the discussion.

How the G-8 and G-20 Fared on Development: Liliana Rojas-Suarez & Sarah Jane Staats

6/28/10

Sarah Jane Staats and Liliana Rojas-SuarezLeaders of the world’s largest and richest countries met over the weekend in Ontario, Canada. What did they accomplish? This week on the Wonkcast, I’m joined by two guests: CGD Senior Fellow Liliana Rojas-Suarez and Director of Policy Outreach Sarah Jane Staats. We examine the statements released by the two groups—looking specifically at what they have to say about several key policy areas for global development.

Listen to the Wonkcast to hear our conversation. Among other topics, we discuss:

  • What President Obama’s G8 announcement on his administration’s development strategy means for the U.S. aid reform agenda.
  • The significance of the G20’s release of a set of principles for financial inclusion.
  • How the headline issues of financial stability and regulation might affect emerging countries.
  • What was said (and wasn’t said) in Toronto on expanding trade, especially for the world’s least developed countries.
  • What role an announced G20 Working Group on development might play in the run-up to the next G20 summit this fall in Seoul, South Korea.

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