2:00—3:15 PM Eastern Time (US & Canada)

The War in Ukraine, Global Liquidity, and Latin America: A Conversation with Central Bank Governors


  • Rosanna Costa, Governor, Central Bank of Chile
  • Rodrigo Cubero, Governor, Central Bank of Costa Rica
  • Julio Velarde, Governor, Central Bank of Peru
  • Leonardo Villar, Governor, Central Bank of Colombia


  • Liliana Rojas-Suarez, Director of the Latin America Initiative and Senior Fellow, Center for Global Development


This event will be broadcast in Spanish and English.


The war in Ukraine is adversely affecting economic growth prospects and inflation globally. But the impact on Latin America is mixed. Some countries in the region are benefiting from high prices on the commodities they export, while net commodity importers are suffering a negative shock. All, however, are dealing with significant inflationary pressures.

At the same time, the effects on Latin America of the cycle of monetary tightening initiated by the Federal Reserve are still quite uncertain. If inflation in the US leads to rapid and sharp interest hikes, global liquidity may induce a reversal of capital flows to emerging markets. This doesn’t bode well for Latin America, where many countries face high debt levels and little fiscal space. What are the views of the regional central bankers regarding the impact of external challenges on their local economies? What policy options are they considering and what are the prospects for the region?

Join our conversation with governors from Chile, Colombia, Costa Rica, and Peru to hear their perspectives at a crucial time for the region.

If you have questions for our panelists, please submit them to events@cgdev.org, tweet @CGDev #CGDTalks, or submit your comments via YouTube.

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