Peru's
took part in the 17th Annual BCR-RBWC-IDB Conference.
The conference, titled "The Great Realignment: Monetary Stability, Global Imbalances and a Geoeconomics of Critical Minerals," was organized by the BCR, the Reinventing Bretton Woods Committee (RBWC), and the Inter-American Development Bank (IDB).
During the event, it was noted that in recent years the global economy has been marked by persistent global imbalances and geopolitical tensions.
These have triggered various supply shocks and accelerated international trade fragmentation.
Likewise, it was noted that profound technological innovations are transforming payment systems.
In addition, advances in artificial intelligence are having a significant impact on economic activity, employment, and productivity.
This environment of heightened uncertainty and structural change poses significant challenges for emerging economies.
However, it also opens up growth opportunities and underscores the importance of having sound macroeconomic fundamentals, adequate regulatory frameworks, and a monetary policy aimed at preserving price stability.
New global landscape
According to the conference discussions, the global economy is transitioning toward a more fragmented and volatile environment shaped by geopolitical factors.
Global imbalances, fiscal pressures, new patterns in international trade and capital flows, as well as technological transformation, are shaping a landscape that could redefine the role of emerging economies in the global arena.
Recent supply shocks linked to geopolitical tensions have also generated inflationary pressures globally.
At the same time, growing demand for critical minerals represents a major opportunity for Latin America.
Seizing that opportunity will require strong institutional frameworks, favorable investment conditions, and prudent macroeconomic management.
Technological innovation and financial inclusion
The meeting highlighted the impact of technological innovations on the provision of financial services, particularly through the development of digital payment platforms that foster interoperability, reduce transaction costs, and promote greater financial inclusion.
In that context, it was noted that public digital platforms could generate additional benefits by reducing transaction costs and deepening financial inclusion.
In the face of this new international scenario, emerging economies must preserve a sound macroeconomic and regulatory framework, ensure effective access to liquidity in times of stress, advance structural reforms, and strengthen international cooperation.
On monetary policy, participants noted that recent global shocks and technological innovations pose challenges that must be addressed within a flexible and credible inflation-targeting regime, in coordination with fiscal policy.
Participants
The event was attended by BCR Governor Julio Velarde; Chile's Central Bank Governor Rosanna Costa; Colombia's Banco de la República Governor Leonardo Villar; Uruguay's Central Bank Governor Guillermo Tolosa; Costa Rica's Central Bank Governor Roger Madrigal; and Jacob Frenkel, Chairman Emeritus of the Group of Thirty (G30) and former Governor of the Bank of Israel.
Representatives of multilateral and regional organizations also took part.
They included Inter-American Development Bank (IDB) President Ilan Goldfajn; International Monetary Fund (IMF) Assistant Director Dora Iakova; Latin American Reserve Fund (FLAR) Executive President Jose Dario Uribe; Center for Latin American Monetary Studies (CEMLA) General Director Manuel Ramos Francia; IDB Lead Economist Vanessa Alviarez; CAF Knowledge Manager Veronica Frisancho; and BIS Representative Office for the Americas Senior Advisor Christian Upper.
Publicado: 9/7/2026