2:00—3:00 PM ET / 7:00-8:00 PM BST

BRIEFING: Latin American Economists Warn IMF Not Ready to Deal with Emerging Markets Crises


Guillermo Calvo, Professor, University of Columbia; former Chief Economist, Inter-American Development Bank

José De Gregorio, Professor of Economics, University of Chile; former Governor of the Central Bank and former Minister of Economy, Mining, Chile

Augusto De La Torre, Former Chief Economist for Latin America and the Caribbean, The World Bank; former Governor, Central Bank of Ecuador

Pablo Guidotti, Professor of the Government School, University of Torcuato di Tella; former Vice Minister of Economy, Argentina

Ernesto Talvi, Senior Fellow, Real Instituto Elcano, Madrid; former Executive Director of CERES and former Minister of Foreign Relations, Uruguay

Andrés Velasco, Dean of the School of Public Policy, London School of Economics, UK; former Finance Minister of Chile

Liliana Rojas-Suarez (presenter), President, CLAAF; Senior Fellow and Director of the Latin American Initiative, Center for Global Development; former Chief Economist for Latin America, Deutsche Bank

As the global economic landscape evolves, the Latin American Committee on Macroeconomic and Financial Issues (CLAAF) is sounding an alarm – calling for immediate and specific reforms of the IMF to ensure it is empowered to tackle challenges ahead. 

Join CGD for an important briefing to learn why leading economists are calling for the IMF to adapt or face an erosion in the credibility of its country programs.

In its most recent statement, the CLAAF asserts that the IMF lacks the firepower and flexibility needed in this critical moment - and offers specific proposals to help it tackle several imminent challenges threatening emerging economies:

  • How can the IMF effectively and credibly be a source of liquidity in times of high turbulence in international capital markets?
  • When debt restructurings are needed, what is the appropriate treatment of domestic debt relative to external debt?
  • How should the IMF manage its unsuccessful programs, namely those loans where countries repeatedly fail to comply with program targets?

During this briefing, CLAAF members will describe the global economic shifts triggering its recommendations and share their analysis on the risks ahead if the IMF fails to embrace this moment and transform in a few key areas.

Subscribe today to receive CGD’s latest newsletters and topic updates.