Latin America looking to improve risk practices
Participants attending the Financial Stability Forum (FSF) in Chile this week said there was a need for further reforms to enhance Latin American domestic markets, ease the burden of public sector debt and provide alternative sources of risk management for the private sector.
The new Basel capital Accord was also on the agenda, with debate centring on whether the necessary preconditions for entry have yet been fulfilled, and how to bring Latin American regulatory, supervisory and risk management practices up to the required standard.
The FSF was established in February 1999 to promote financial stability throughout the international markets. This was the third regional meeting in Latin America, with representatives of 14 countries in attendance, including members of supervisory bodies, regulators and finance ministers. The meeting took place at the Central Bank of Chile in Santiago.
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