CXIX Meeting of Governors of Central Banks Members of CEMLA

The Center for Latin American Monetary Studies (CEMLA) held the CXIX Meeting of Governors of Central Banks Members at the International Monetary Fund (IMF) headquarters in Washington, D.C., on October 14, 2025.

The session was chaired by José Luis Escrivá Belmonte, Governor of the Banco de España and President of CEMLA's Board of Governors, together with Manuel Ramos Francia, CEMLA’s General Director, who delivered the welcoming remarks to the Governors and representatives of member institutions.

During Session I, Dr. Rodrigo Valdés, Director of the Western Hemisphere Department at the IMF, delivered a presentation on the economic and financial outlook for the Americas, with particular focus on the recent evolution of inflation and the policy challenges faced by central banks in the region.

Session II, chaired by José Luis Escrivá Belmonte, featured a high-level exchange among member central bank governors. Participants included Brian Doyle (Federal Reserve Board), Leonardo Villar Gómez (Banco de la República, Colombia), Rosanna Costa (Banco Central de Chile), Gabriel Muricca Galípolo (Banco Central do Brasil), Santiago Bausili (Banco Central de la República Argentina), Julio Velarde Flores (Banco Central de Reserva del Perú), Héctor Valdez Albízu (Banco Central de la República Dominicana) and John A. Rolle (Central Bank of the Bahamas).

The Governors exchanged perspectives on the regional macroeconomic environment and inflation trends, emphasizing the importance of regional cooperation, financial stability, and the strengthening of monetary policy frameworks.

In Session III, CEMLA’s General Director, Manuel Ramos Francia, presented the Institutional Activities Report, summarizing the Center’s key achievements in technical cooperation, training programs, and the implementation of its Strategic Plan.