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THE CHANGING NATURE AND GEOGRAPHY OF GLOBAL FINANCE
Cusco, Peru
July 18-19, 2019
The world economy is no longer synchronized. Protectionism, the US-China trade war, Europe under Brexit, slowing global economy, declining trade, cross-sanctions, geopolitical risks, are all clearly a ready-made recipe for a potential crisis that the global economy can face in 2019. This process is being heated by the current normalization of monetary policy in developed countries. Global markets are entering a new era of volatility as the world adjusts to higher interest rates after a decade of ultra-loose monetary policy.
Rising uncertainty across the international political and economic landscape also continues to challenge the global financial stability. Particularly, how should central banks react to this environment and embrace the digital revolution?
AGENDA
PANELS
Opening Remarks
![](https://i0.wp.com/www.reinventingbrettonwoods.org/wp-content/uploads/2019/05/JulioVelarde-petit.jpg?resize=138%2C170)
Julio VELARDE
Governor, Central Reserve Bank of Peru
![](https://i0.wp.com/www.reinventingbrettonwoods.org/wp-content/uploads/2019/05/Marc-Uzan.jpg?resize=138%2C170)
Marc UZAN
Executive Director, Reinventing Bretton Woods Committee
![](https://i0.wp.com/www.reinventingbrettonwoods.org/wp-content/uploads/2019/06/Capture-d’écran-2019-06-20-à-12.37.36.png?w=1080&ssl=1)
Panel 1: Money, Debt, Deficit: Managing the Next Downturn
![](https://i0.wp.com/www.reinventingbrettonwoods.org/wp-content/uploads/2019/05/JulioVelarde-petit.jpg?resize=138%2C170)
Julio VELARDE
CHAIR
Governor, Central Reserve Bank of Peru
![](https://i0.wp.com/www.reinventingbrettonwoods.org/wp-content/uploads/2019/06/DSC_0105-1024x784.jpg?resize=138%2C170&ssl=1)
Fabio NATALUCCI
Deputy Director, Monetary and Capital Markets, IMF
![](https://i0.wp.com/www.reinventingbrettonwoods.org/wp-content/uploads/2019/05/Pablo-Hernandez-de-cos.png?resize=138%2C170)
Pablo HERNÁNDEZ DE COS
Governor, Bank of Spain
![](https://i0.wp.com/www.reinventingbrettonwoods.org/wp-content/uploads/2019/07/Fernanda-Nechio-small.jpg?resize=138%2C170&ssl=1)
Fernanda NECHIO
Deputy Governor, Central Bank of Brazil
![](https://i0.wp.com/www.reinventingbrettonwoods.org/wp-content/uploads/2019/07/Alejandro-Izquierdo-small.jpg?resize=138%2C170&ssl=1)
Alejandro IZQUIERDO
Principal Technical Leader, Research Department, IDB
![](https://i0.wp.com/www.reinventingbrettonwoods.org/wp-content/uploads/2019/07/Screenshot-2019-07-09-at-16.55.36.png?resize=1080%2C303&ssl=1)
Panel 2: New Patterns of Global Imbalances
![](https://i0.wp.com/www.reinventingbrettonwoods.org/wp-content/uploads/2019/05/Guillermo-Ortiz.jpg?resize=138%2C170)
Guillermo ORTIZ
CHAIR
Partner and Board Member, BTG Pactual
![](https://i0.wp.com/www.reinventingbrettonwoods.org/wp-content/uploads/2019/05/Kazumasa-Iwata.jpg?resize=138%2C170)
Kazumasa IWATA
President, Japan Center for Economic Research
![](https://i0.wp.com/www.reinventingbrettonwoods.org/wp-content/uploads/2019/05/barry-eichengreen.jpg?resize=138%2C170)
Barry EICHENGREEN
Professor of Economics, UC Berkeley
![](https://i0.wp.com/www.reinventingbrettonwoods.org/wp-content/uploads/2019/05/Gian-Milesi-Feretti.jpg?resize=138%2C170)
Gian MILESI-FERRETTI
Deputy Director, Research Department, IMF
![](https://i0.wp.com/www.reinventingbrettonwoods.org/wp-content/uploads/2019/05/Manoj-Pradhan.jpg?resize=138%2C170)
Manoj PRADHAN
Founder, Talking Heads Macro
![](https://i0.wp.com/www.reinventingbrettonwoods.org/wp-content/uploads/2019/07/Screenshot-2019-07-09-at-17.00.47.png?resize=1080%2C333&ssl=1)
Panel 3: US Economic Policy and Emerging Markets Cycles and Their Future Growth Models
![](https://i0.wp.com/www.reinventingbrettonwoods.org/wp-content/uploads/2019/05/Oganes-Luis-cropped_0.jpg?resize=138%2C170)
Luis OGANES
CHAIR
Managing Director, Head of Currencies, Commodities and Emerging Markets Research, J.P. Morgan
![](https://i0.wp.com/www.reinventingbrettonwoods.org/wp-content/uploads/2019/05/Moritz-Schularick.jpg?resize=138%2C170)
Moritz SCHULARICK
Professor of Economics, University of Bonn
![](https://i0.wp.com/www.reinventingbrettonwoods.org/wp-content/uploads/2019/05/Alexandre-Tombini.jpg?resize=138%2C170)
Alexandre TOMBINI
Executive Director, IMF and Former Governor of the Central Bank of Brazil
![](https://i0.wp.com/www.reinventingbrettonwoods.org/wp-content/uploads/2019/06/ClaudeLopez1-1.jpg?resize=138%2C170&ssl=1)
Claude LOPEZ
Director of International Finance and Macroeconomics, Milken Institute
![](https://i0.wp.com/www.reinventingbrettonwoods.org/wp-content/uploads/2019/06/gyorgy-szapary.jpg?resize=138%2C170&ssl=1)
György SZAPÁRY
Chief Advisor to the Governor, Central Bank of Hungary
![](https://i0.wp.com/www.reinventingbrettonwoods.org/wp-content/uploads/2019/06/Capture-d’écran-2019-06-20-à-12.39.37.png?w=1080&ssl=1)
Panel 4: Dedollarisation of the Financial Systems: Lessons and Experience
![](https://i0.wp.com/www.reinventingbrettonwoods.org/wp-content/uploads/2019/05/Jose-Dario-Uribe.jpg?resize=138%2C170)
Jose Dario URIBE
CHAIR
Chair, FLAR
![](https://i0.wp.com/www.reinventingbrettonwoods.org/wp-content/uploads/2019/06/federico-sturzenegger.jpg?resize=138%2C170&ssl=1)
Federico STURZENEGGER
Former Governor, Central Bank of Argentina
![](https://i0.wp.com/www.reinventingbrettonwoods.org/wp-content/uploads/2019/07/Liana-Caballero.jpg?resize=138%2C170&ssl=1)
Liana CABALLERO
Member of the Board, Central Bank of Paraguay
![](https://i0.wp.com/www.reinventingbrettonwoods.org/wp-content/uploads/2019/05/Turalay-Kenc.jpg?resize=138%2C170)
Turalay KENC
Former Deputy Governor, Turkey
![](https://i0.wp.com/www.reinventingbrettonwoods.org/wp-content/uploads/2019/07/Adrian-Armas-small.jpg?resize=138%2C170&ssl=1)
Adrián ARMAS
Chief Economist, Central Bank of Peru
![](https://i0.wp.com/www.reinventingbrettonwoods.org/wp-content/uploads/2019/07/Screenshot-2019-07-09-at-17.03.04.png?resize=1080%2C311&ssl=1)
Panel 5: Central Banking in a New Technological Era
![](https://i0.wp.com/www.reinventingbrettonwoods.org/wp-content/uploads/2019/06/javier-perez.jpg?resize=138%2C170&ssl=1)
Javier PÉREZ
CHAIR
Director of International Economics and Euro Area, Banco de España
![](https://i0.wp.com/www.reinventingbrettonwoods.org/wp-content/uploads/2019/05/Jose-Manuel-Gonzalez-Paramo.jpg?resize=138%2C170)
José Manuel GONZÁLEZ PARAMO
Executive Board Member, BBVA
![](https://i0.wp.com/www.reinventingbrettonwoods.org/wp-content/uploads/2019/05/Roberto-Rigobon.jpg?resize=138%2C170)
Roberto RIGOBON
Professor of Economics, MIT
![](https://i0.wp.com/www.reinventingbrettonwoods.org/wp-content/uploads/2019/05/Warwick-McKibbin_imagesuppliedbyCrawford.jpg?resize=138%2C170)
Warwick MCKIBBIN
Professor of Economics, Australia National University
![](https://i0.wp.com/www.reinventingbrettonwoods.org/wp-content/uploads/2019/05/eric-santor.jpg?resize=138%2C170)
Eric SANTOR
Advisor to the Governor on
Digitalization, Bank of Canada
![](https://i0.wp.com/www.reinventingbrettonwoods.org/wp-content/uploads/2019/07/Jorge-Ponce-small2.jpg?resize=138%2C170&ssl=1)
Jorge PONCE
Head of Economic Research Department, Central Bank of Uruguay
![](https://i0.wp.com/www.reinventingbrettonwoods.org/wp-content/uploads/2019/07/Capture-d’écran-2019-07-30-à-15.38.40.png?w=1080&ssl=1)
Panel 6: Implications for the Conduct and Design of Monetary Policies
![](https://i0.wp.com/www.reinventingbrettonwoods.org/wp-content/uploads/2019/05/Victoria-Nuguer.jpg?resize=138%2C170)
Victoria NUGUER
CHAIR
Research Economist, IDB
![](https://i0.wp.com/www.reinventingbrettonwoods.org/wp-content/uploads/2019/06/fiorella-de-fiore.jpg?resize=138%2C170&ssl=1)
Fiorella DE FIORE
Head of Monetary Policy, BIS
![](https://i0.wp.com/www.reinventingbrettonwoods.org/wp-content/uploads/2019/05/Manuel-Ramos-Francia.jpg?resize=138%2C170)
Manuel RAMOS FRANCIA
Director General, Centro de Estudios Monetarios Latinoamericanos
![](https://i0.wp.com/www.reinventingbrettonwoods.org/wp-content/uploads/2019/07/Andres-Fernandez-small.jpg?resize=138%2C170&ssl=1)
Andrés FERNÁNDEZ
Head of Research, Central Bank of Chile
![](https://i0.wp.com/www.reinventingbrettonwoods.org/wp-content/uploads/2019/06/JoseAntonioOCAMPO.jpg?resize=138%2C170&ssl=1)
José Antonio OCAMPO
Member of the Board, Central Bank of Colombia
![](https://i0.wp.com/www.reinventingbrettonwoods.org/wp-content/uploads/2019/07/Screenshot-2019-07-09-at-17.05.50.png?resize=1080%2C332&ssl=1)