Alejandro Díaz de León: Remarks - 2020 Institute of International Finance G20 Conference
Remarks by Mr Alejandro Díaz de León, Governor of Bank of Mexico, at the 2020 Institute of International Finance G20 Conference, Saudi Arabia, 22 February 2020.
Good afternoon. I would like to thank the Institute of International Finance (IIF) for the invitation to discuss some of the challenges Mexico and other Latin American economies are facing from the point of view of the Central Bank.
Trade integration has been widely debated in the last few years and, going forward, we are likely to see a less global and a more regional trade integration. Today, I would like to address some of the challenges associated to global financial integration. This integration has brought, undoubtedly, many benefits. But changes in global risk appetite and the portfolio reactions to idiosyncratic risk factors pose additional challenges and trade-offs for monetary policy.
Benefits and Challenges of International Financial Integration
Let me begin by highlighting some trends that I believe are important to understand the context in which emerging markets' central banks operate.