A regional reserve fund for Latin America

Daniel Titelman Kardonsky, Cecilia Vera, Pablo Carvallo and Esteban Perez Caldentey

Financiamiento para el Desarrollo from Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL)

Abstract: Strengthening the Latin American Reserve Fund (FLAR) by expanding its size and scope in order to encompass a larger number of countries of the region would significantly contribute to financial stability as a regional and global public good. This paper seeks to cast light on the viability, implications and challenges of expanding FLAR to another five countries in the region: Argentina, Brazil, Chile, Mexico and Paraguay. In our view, regional reserve funds are one of the mechanisms that contribute to a denser international financial architecture and help enhance its capacity to provide financial stability. Greater densification means not only that there is a wider range of tools, but also that there is greater interconnectivity between the institutions that make up the international financial architecture.

Date: 2014-02-24
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http://repositorio.cepal.org/handle/11362/35868

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Journal Article: A regional reserve fund for Latin America (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:ecr:col035:35868

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