39 ALIDE General Assembly CURAÇAO 2009
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Asociación Latinoamericana de Instituciones Financieras para el Desarrollo
Corporación para el Desarrollo de Curaçao (Korpodeko)
Changes in the world economy and challenges for Latin American and Caribbean development financing
Although Latin America and the Caribbean are in a stronger position than during other financial crises, the effects of the current crisis are beginning to be felt. Economic growth estimates are being readjusted downwards, with the result that the countries’ wellbeing is being affected in the short and medium terms. For that reason, it is important to discuss the impact of the crisis on the region and the effectiveness of measures put into practice by the international financial community --governments, central banks, and international financial organizations, among others-- to stem global economic deterioration. At the same time, we will also examine the new appearance of financial markets in the future and the role development banks should play in both economic recovery and the new scenario.

Topic I:

The counter-cyclical role of development banks and the sustainability of trade and investment flows
Efforts to cope with the crisis have placed major emphasis on direct State intervention to hold up financial markets and avoid a more serious collapse. It has become evident that the State must play an important regulatory and supervisory role, particularly in the financial market, to assure favorable conditions for the development of healthy financial products and services. At the same time, it is the State’s responsibility to take action to uphold trade and investment financing through its development financing institutions in their counter-cyclical role and always hand-in-hand with the private sector.

Topic II:
Fundraising for development and alternative financing sources
The financing sources to which financial institutions normally have access, are tending to dry up, making it necessary to look into other alternatives. For that reason, it is important to explore fundraising sources, modes and mechanisms development banks can use to ensure the continuity of financing for the economic sectors. In particular, it would be interesting to look into the proposals and initiatives of multilateral financing organizations and their connection and consistency with the function performed by national development banks.

Topic III:
Development banking innovation experiences to support the production and social sectors in coping with the global financial crisis
Commercial banks have become much more cautious about granting credit in the current financial crisis. This affects principally micro, small and medium enterprises among other economic and social sectors. It is there that development banks must be present, to strengthen and preserve the access of those enterprises to financing, in order to underpin social and productive investment. As a result, it is important to publicize and share the innovations made by development banks in orchestrating their anti-crisis programs.

Special Topic:
Tourism: development policies and investment potential for Latin American and Caribbean economies
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