{"id":25553,"date":"2024-01-19T10:08:34","date_gmt":"2024-01-19T15:08:34","guid":{"rendered":"https:\/\/www.bu.edu\/gdp\/?p=25553"},"modified":"2024-02-16T10:52:05","modified_gmt":"2024-02-16T15:52:05","slug":"latin-american-reserve-fund-latin-americas-alternative-to-the-imf","status":"publish","type":"post","link":"https:\/\/www.bu.edu\/gdp\/2024\/01\/19\/latin-american-reserve-fund-latin-americas-alternative-to-the-imf\/","title":{"rendered":"Latin American Reserve Fund: Latin America\u2019s Alternative to the IMF?"},"content":{"rendered":"
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Bogota, Colombia. Photo by Random Institute via Unsplash.<\/figcaption><\/figure>\n

While Latin America\u2019s development bank, Fondo Latinoamericano de Reservas (the Latin American Reserve Fund, or FLAR) went largely unnoticed for much of the 20th<\/sup> century, it has evolved considerably during its more than four decades in operation. It began as a small reserve pooling arrangement for Andean countries and now occupies a vital role as the only liquidity mechanism in the region. The FLAR has become so important to regional financial stability that it has even out-lent the International Monetary Fund (IMF) to its member countries during key periods in its history.<\/span><\/p>\n

In <\/span>a new book chapter<\/i><\/b><\/a> in the Monetary Policy Challenges in Latin America<\/em><\/a><\/span>, <\/span><\/i>William N. Kring<\/span><\/a> highlights the unique and important role that the FLAR plays in advising member countries on macroeconomic stability efforts and in responding to balance-of-payments and liquidity challenges.<\/span><\/p>\n

Kring explains how adaptability is one of FLAR\u2019s keys to success, demonstrated by how members broadened FLAR\u2019s scope and bolstered the mechanism\u2019s lending capacity to $6.8 billion in response to the COVID-19 crisis. The chapter concludes with a brief discussion of how further efforts toward regional integration and the expansion of existing efforts, such as FLAR, could help to continue to foster financial stability in the region.<\/span><\/p>\nRead the Book Chapter<\/a>\n","protected":false},"excerpt":{"rendered":"

While Latin America\u2019s development bank, Fondo Latinoamericano de Reservas (the Latin American Reserve Fund, or FLAR) went largely unnoticed for much of the 20th century, it has evolved considerably during its more than four decades in operation. It began as a small reserve pooling arrangement for Andean countries and now occupies a vital role as […]<\/p>\n","protected":false},"author":22871,"featured_media":25554,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1153,55,156,77,1154,144,58],"tags":[3318,1998,389,2413,3837,3839,459,772,178,401,3838,3840,3663,1693],"_links":{"self":[{"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/posts\/25553"}],"collection":[{"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/users\/22871"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/comments?post=25553"}],"version-history":[{"count":8,"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/posts\/25553\/revisions"}],"predecessor-version":[{"id":26843,"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/posts\/25553\/revisions\/26843"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/media\/25554"}],"wp:attachment":[{"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/media?parent=25553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/categories?post=25553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bu.edu\/gdp\/wp-json\/wp\/v2\/tags?post=25553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}