A regional reserve fund for Latin America / Daniel Titelman ... [and others].

Format:

Book

Government document

Contributor:

Titelman, Daniel.

Vera, Cecilia.

Carvallo, Pablo.

Pérez Caldentey, Esteban.

Language:

English

Subjects (All):

Economic and Social Development.

Local Subjects:

Economic and Social Development.

Physical Description:

1 online resource (22 pages)

Contained In:

CEPAL Review Vol. 2014, no. 112, p. 7-28 2014:112<7 1684-0348

Place of Publication:

[Place of publication not identified] : United Nations, 2014.

System Details:

text file

Summary:

This paper analyses the viability, implications and challenges of expanding the Latin American Reserve Fund (flar) to Argentina, Brazil, Chile, Mexico and Paraguay. A regional reserve fund should be viewed as one of a broad range of mechanisms offered by the international financial architecture to address balance-of-payment difficulties. A fund with resources of between US$ 9 and US$ 10 billion at its disposal would be able to cover the potential funding needs of its members in the most likely scenarios, without necessarily becoming the lender of last resort for all its members. In more extreme scenarios, the fund should be able to "broaden its shoulders" by drawing on other components of the international financial architecture. Fund governance would present the main challenge resulting from an increase in the number of members.

Access Restriction:

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