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On December 11-14, 2016, Ernesto Talvi participated in the Latin America Shadow Financial Regulatory Committee (CLAAF), held in Buenos Aires, Argentina. The committee is composed of a group of prestigious independent Latin American economists, former policymakers, and academics with strong expertise in the field of macroeconomics, banking and finance and whose goal is to identify and analyze challenges and risks for the region. The following document—Policy Statement Number 36—was released following the meetings. It discusses the headwinds and risks faced by Latin America in a challenging context of increasing backlash against globalization in the developed world and recommends a series of policy actions to mitigate the adverse effects of these external developments.
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