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The blog examines the evolution of direct investment in Paraguay between 2008 and 2024, highlighting sectoral differences in investment flows, corporate profitability, and export orientation. Drawing on firm-level data from the Central Bank of Paraguay, this joint study with FLAR provides valuable insights into investment dynamics and informs policies to attract capital and promote productive diversification.
JOINT IMF-RFAS PRESS RELEASE ON THE 11TH HIGH-LEVEL RFA DIALOGUE On 13 October 2026, the Regional Financing Arrangements (RFAs) and the International Monetary Fund (IMF) convened their 11th Annual High-level Dialogue in Bangkok, Thailand, at the margins of the IMF/World Bank Annual Meetings. Following severe flooding in Bangkok and several areas across Thailand, participants expressed […]
This working paper examines how monetary policy affects bank deposits in emerging and developing economies. Using data from more than 1,600 banks across 52 countries between 1996 and 2021, the authors find that higher policy interest rates are associated with slower deposit growth and wider spreads between policy rates and deposit remuneration. The findings highlight the importance of the deposit channel as a key mechanism of monetary policy transmission and underscore the need to pay greater attention to the liability side of banks’ balance sheets in both research and policymaking.
New Working Paper FLAR Is the International Bank Lending Channel Driven by Ownership? Evidence from Local Banks and Foreign Subsidiaries Carlos Giraldo, Iader Giraldo, Jose E. Gomez-Gonzalez, Jorge M. Uribe June 2026 Read Working Paper
Press release Press Release: FLAR Celebrates the XXI Annual Economic Studies Conference in Cartagena Fiscal-Monetary Interactions and Macro-Financial Vulnerabilities in a Fragmenting World See press release
Press release FLAR Board of Directors Re-elects José Darío Uribe as Executive President for the 2026–2029 Term See press release
Carlos Giraldo, Iader Giraldo, Jose E. Gomez-Gonzalez, and Jorge M. Uribe have published the study “Bank capital adjustment to public debt shocks: The role of institutions in emerging markets”, which examines how public debt shocks affect banks’ capital ratios and how these responses vary depending on institutional and regulatory quality across countries. The findings highlight the importance of strong regulatory frameworks in supporting financial stability, particularly in emerging markets.
FLAR and ASEAN+3 Macroeconomic Research Office reaffirm their commitment to strengthening global resilience through closer inter-regional cooperation, highlighting the importance of macroeconomic surveillance and financial connectivity for a more stable and inclusive system.
We are pleased to share a new publication in the academic journal International Journal of Energy Economics and Policy, entitled “Determinants of Financial Hedging Strategies among Commodity Producer Firms in Latin America”, authored by Carlos Giraldo, Iader Giraldo, Cristian Huertas, and Juan Camilo Sánchez.
El pasado 23 de diciembre de 2025, el FLAR realizó el desembolso de un crédito de apoyo a la balanza de pagos de Ecuador por USD 500 millones, aprobado por su Directorio en la reunión ordinaria CXIV.