Challenges ahead for central banks in the Americas

Speech by Mr Alexandre Tombini, BIS Chief Representative for the Americas, Nassau, Bahamas.

Amid significant global economic uncertainty, Latin America and the Caribbean face challenges and opportunities. In addition to coping with diverse growth and inflation patterns after the pandemic, the region must navigate trade tensions, US immigration policy shifts and volatile capital flows. Robust and adaptable policy frameworks are key to coping with these challenges. In every crisis lies an opportunity, and countries must act flexibly to diversify and strengthen trade ties regionally and globally. They must implement structural reforms to lift trend growth and ensure economic stability in the long term. While governments should focus on prudent fiscal management and structural reforms, central banks play a crucial role in maintaining macroeconomic stability and credibility.