Hidden Bibliographic Details
| Other authors / contributors: | Canales-Kriljenko, Jorge Iván, author.
International Monetary Fund. Monetary and Capital Markets Department, issuing body.
International Monetary Fund. Western Hemisphere Department, issuing body.
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| ISBN: | 9781455264988
1455264989
1283570025
9781283570022
1455214981
9781455214983
9781455211739
1455211737
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| Notes: | Title from PDF title page (IMF Web site, viewed Feb. 23, 2011).
At head of title: Monetary and Capital Markets and Western Hemisphere Department.
"December 2010."
Includes bibliographical references.
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| Summary: | This paper highlights that central banks from Brazil, Chile, Colombia, Mexico, and Peru (the LA5 countries) reaped the benefits of what they sowed in successfully weathering the global crisis. The adoption of far-reaching institutional, policy, and operational reforms during the last two decades enabled central banks to build credibility about their commitment with the objective of price stability. Thus, when the 2007 - 08 supply shock and the financial crisis hit the world, the LA5 central banks reacted swiftly and effectively based on a flexible policy framework and with the support of strong macroeconomic and financial foundations. Building on the experience of the LA5 central banks and complementing with recommendations from the IMF́s technical advice, the paper provides several suggestions for countries seeking to strengthen the effectiveness of monetary policy.
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| Standard no.: | 10.5089/9781455214983.001
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