53 rd annual meeting of the IDB in Uruguay against the backdrop of the European crisis

The Inter-American Development Bank (IDB) launched in Nairobi on Thursday the 53 rd annual meeting, in which governors will discuss the impact of the debt crisis in Europe and protectionist measures that abound in the region.

The council president, the Colombian Luis Alberto Moreno, had advanced in Washington last week that among the central themes of the Assembly would be “public safety” in a context of increased killings and violence in Latin America.

But while the official agenda of the meeting is focused on security and the promotion of youth participation in society, economy and finance ministers and central bankers should focus their discussions on the effects of critical international context in America America.

“It will be essential (…) to review the crisis in Europe” and “responsiveness of the bank crisis,” the manager said Wednesday IDB Strategic Planning, Koldo Echebarría at a news conference.

The event takes place also at a time when protectionist measures that impede trade flows tense relations between Latin American countries.

Peru, Chile, Mexico, Colombia, and some countries of Mercosur even sue evaluated Argentina to the World Trade Organization (WTO) by the restrictions imposed on their products to enter that country, reported Tuesday Peruvian Deputy Foreign Trade, Carlos Posada.

Against this background, the meeting, which also calls for Inter-American Investment Corporation (IIC), will begin on Thursday with some seminars, but governors’ meetings will focus on Sunday and Monday.

According Echebarría, Ministers of Finance and central bank presidents will evaluate various tools available to help alleviate body effects in the region of possible additional financial turmoil as a result of the European crisis.

In particular, the official said, these are tools to ensure the spending capacity of the countries. Among these mechanisms, said lines of credit “contingency”, ie available for countries from using them as their financial needs.

Although “the region is doing a very good job in recent years” must be prepared for the eventuality that things “get worse” and “face more turbulence in the macroeconomic environment,” for example, the “consequences of a fiscal adjustment in the U.S. next year, “estimated Echeberría.

The meeting will also be the occasion for the launch of several studies conducted by the Washington-based institution. The IDB and the ADB, his counterpart in Asia, presented the report “Latin America and Asia: Opportunities and challenges of a long term relationship ‘.

It will also be presented a mechanism for monitoring the effects of climate change in countries of the region strongly affected by natural disasters. The scheme, called ‘Climascopio’ is a project of the Multilateral Investment Fund (MIF), an organization that is part of the IDB Group and is intended to encourage private investment to fight poverty.

Some 3,800 participants, including official delegations and guests will be part of this meeting in Montevideo, for which the Uruguayan authorities have earmarked about 900 police officers who are responsible for security. The device forced to suspend official football tournaments and basketball weekend, traditional Uruguayan fans.

However, the IDB will contribute its own share of sport and Saturday develop a bicycle tour along the coastal promenade (boardwalk) in Montevideo, with the participation of the agency’s owner and president of Uruguay, Jose Mujica, organizers confirmed.