back to top

corporacion andina de fomento annual report

CAF began operations with a subscribed capital of $25 million. In order to execute the actions of its social agenda, CAF has various types of operations and sources of financing through which it provides innovative and high impact responses to crucial aspects of human and social development. Ladies and Gentlemen, Eurozone. One of the priorities of the renewed sustainable development agenda that CAF supports in its shareholder countries is to promote the strengthening of the human and social capital of the region. On the other, regional integration initiatives have gained strength, in particular with the launching of the South American Union during the Presidential Summit in Cusco, Peru on December 8 th, Moreover, various initiatives and negotiations are currently in progress at both the bilateral and the multilateral level, such as the advances in IIRSA, the Initiative for Integration of South American Infrastructure, and the Plan Puebla Panama for the integration of MesoAmerica. Furthermore, macro and microeconomic vulnerabilities persist. In 2004 moderate growth (1.9%) was achieved, in spite of a severe energy crisis and a growing fiscal deficit (the Central Government deficit was 5.8% of GDP). Managing Systemic Banking Crises David S. Hoelscher Assistant Director Money and Credit Markets Department 2 Introduction Systemic banking crises of unprecedented scale: Argentina, East Asia, Ecuador, The EMU and the debt crisis MONETARY POLICY REPORT FEBRUARY 212 43 The debt crisis in Europe is not only of concern to the individual debt-ridden countries; it has also developed into a crisis for the, Concept Note and Call for Papers AFRICAN ECONOMIC CONFERENCE 2015 ADDRESSING POVERTY AND INEQUALITY IN THE POST 2015 DEVELOPMENT AGENDA Kinshasa, Democratic Republic of Congo 2-4 November, 2015 1 1. In social policy, which had been restricted by the availability of fiscal resources, initiatives for the improvement of educational quality and access to health services were implemented. L. Enrique Garca President & CEO 7, 8 ANNUAL REPORT 2004 The economic environment and regional integration IN 2004, LATIN AMERICA CONSOLIDATED ITS RECOVERY in a context of limited inflation, external sector surpluses and relative stability of financial and exchange markets. With our renewed vision of becoming the bank of economic reactivation and the green bank of Latin America and the Caribbean, our main milestone in 2021 was the approval, by our Board of Directors, of a historic capitalization of USD 7,000 million, which will double the portfolio by 2030. For 2005, a 5.3% GDP growth rate is expected, with an improvement in public finances and a fall in foreign public debt. In fact, the sustainability of economic recovery in the region will depend in part on vulnerabilities faced in foreign markets. This is the case of Colombia, Peru, Chile and Brazil, where authorities are trying different policies aimed at mitigating the effects of this tendency, including short term capital controls, as in Colombia. //--> For 2005 and 2006, a slight reduction in the region s growth rates is expected, to a yearly average of 4%, in line with a moderate deceleration at the global level. CAF - Development Bank of Latin America - Wikipedia All recordings are available using this link or in the "Agenda" section. Economic growth has brought about a fall in unemployment from 18% in 2003 to approximately 11% in On the other hand, high oil prices in 2004 contributed to generating a substantial trade surplus that, together with exchange rate controls, has significantly increased the level of foreign reserves. With respect to data and forecasts, Latin America and the Caribbean includes the sixteen countries of the region that are members of the Corporation: Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Jamaica, Mexico, Panama, Paraguay, Peru, Trinidad y Tobago, Uruguay and Venezuela. The last Global Competitiveness Report published by the World Economic Forum ranks Latin American countries on average in position 69 among 104 countries (in 2003, the average ranking was 67 among 102 countries) Six of these countries, three of them Andean, rank among the 20 least competitive economies in the world. On the other hand, Venezuela faces the challenge of managing its exchange rate controls in a complicated environment of high current account surpluses, external liquidity, expanding domestic demand and inflation levels that, although declining, continue to be high compared to the rest of the region. Forecasting Chinese Economy for the Years 2013-2014, In recent years, fiscal policy in China has been prudent. Furthermore, if current prices were to persist, world growth prospects for 2005 and 2006 could diminish. CAFs partnerships with public and private sector organizations have allowed it to play an active role in the promotion of projects and programmes that generate environmental benefits and to address climate change impacts. Introduction From the end of the 1990s until 2005 (with a break in 2002), there was a gradual deterioration in the structural, Public Sector Program (RRP RMI 43321-1) A. Chapter 6, The global financial crisis is already causing a, How To Understand Current Account Balance In Armenia. The Non Financial Public Sector (NFPS) registered positive results, while central government finances continue to exhibit significant structural constraints. As for education indicators, the region is in a relatively good position with respect to other developing regions: the illiteracy rate has fallen 4 basis points during and is currently the second lowest in the developing world, after Eastern Europe and Central Asia. Poverty and social institutions According to ECLAC data for 2002, 44% of Latin America s population lives below the poverty line, while 19.4% are indigent (not able to cover minimum daily nutrition needs). From this one can understand that the successful implementation of a competitiveness agenda in the region must include a variety of both micro and macroeconomic initiatives, with the active participation of both the public and the private sector. In addition to the favorable context of commodities prices, the region has advanced in the negotiation and signing of various trade agreements. After the breakdown of negotiations at Cancun, WTO members have been working to revive the Doha Round negotiations. Mexico. Issuer: Corporacion Andina de Fomento (CAF) Debt Level: senior unsecured Issue: EUR 250.7 mln 3.31% bond/note 12-Dec-2028. The downturn was greatest in high-income economies, where growth fell from 3 percent. Statement by the Hon. Other identifiers: 1237857-4 [ZDB] Source: ECONIS - Online Catalogue of the ZBW. The U.S. Economy after September 11. We note that in May 2018 the IMF issued a declaration of censure against Venezuela for inadequate reporting of economic data. Policy Brief. Lastly, the Dominican Republic, CAF s most recent member, appears to be recovering after a small GDP contraction in 2003 of 0.4%, brought about by the world economic slowdown. At the current price of 94.8 CHF this equals a annual yield of 2.47%. Inflation peaked in 2004, reaching its highest level of the past 12 years (13.1%), two points above the initial inflation target. Although high oil prices benefit countries like Venezuela, Mexico, Ecuador, Argentina and Colombia, they also hurt net oil importers (such as the countries of the Caribbean). Janet L. Yellen. Firstly, external and fiscal vulnerabilities in industrialized countries, especially in the U.S., in a complex geopolitical context. Fitch assesses CAF's liquidity as 'aa+', underpinned by its 'excellent' liquidity buffer and access to capital markets. 09 Mar 2018 / The importance of the private sector was a common theme among many of the participants at the recently-concluded GCF Structured Dialogue in Latin America. These meetings were highly important for the definition of a new agenda of regional integration, which include an acceleration of trade agreements, greater stimulus to projects of physical and energy infrastructure, and increased relevance to social and human development agendas in the integration processes. d/ 2002 data. The Impact Protocol provides a, 07 March 2023Climate Change, Publications, TCFD, 28 November 2022Publications, SDGs and Impact. It is well known that the recovery of the global economy and sustained growth in China have resulted in highly favorable conditions with respect to commodities prices. The government has endorsed monetary orthodoxy and fiscal prudence, contributing to macroeconomic stability. Given the complexity and multiple dimensions of poverty and inequality, any strategy tackling these problems cannot limit itself to economic factors but must also take into account political, social 2. n.a ,2** , , , , , , , , ,918 1,549 1,400 61, ,170 12, ,635 2,115 24, , , , n.a n.a n.a. Public finance and debt Fiscal management has improved in most Latin American countries, as a result of both a more stable macroeconomic framework and the implementation of fiscal responsibility laws. Even though macroeconomic prospects are positive, with an expected growth rate of 3.2% for 2005, challenges include increasing competitiveness, cost reduction in energy production, achieving trade agreements and improving the business environment to attract investment. 13-Jan-2023 AA- Upgrade Long Term Rating Its shareholders are the five countries of the Andean Community: Bolivia, Colombia, Ecuador, Peru and Venezuela, as well as Argentina, Brazil, Chile, Costa Rica, Spain, Jamaica, Mexico, Panama, Paraguay, Dominican Republic, Trinidad & Tobago, Uruguay and 16 private banks in the region. Naturally, these difficult external conditions have affected the Mexican economy. The CAF has maintained a permanent presence in its shareholder countries, which has strengthened its regional leadership in terms of effective mobilization of resources. Economic performance The Mexican economy is highly concentrated in services, accounting for 62% of GDP, then industry 34% and agriculture only 4%. The active participation of the public and private sectors is fundamental for the successful implementation of an agenda that contributes to increase the competitiveness of the region s economies. As a financial intermediary it attracts resources from industrialized countries to Latin America, and serves as a bridge between international capital markets and the region by promoting investments and business opportunities. Nonetheless, although the pressure in oil markets is worrisome, the real effect on the world economy appears lower than in the past, due to greater efficiency levels in the use of energy in both homes and firms. Its shareholders are the ve countries of the Andean Community: This improvement in financial conditions is largely a result of the extraordinary levels of liquidity worldwide, of low interest rates in industrialized countries which have begun to increase gradually since the middle of the year, and of the recovery and positive prospects of the principal Latin American economies. EconBiz.Logger.enable_Autocompletion_tracking(); Corporacin Andina de Fomento (CAF) is a multilateral financial institution that promotes the sustainable development of its shareholder countries and regional integration. South African Reserve Bank. Main Financial Ratios 2 III. The government continues to exhibit fiscal restraint, above the targets set by the stand-by agreement with the IMF. Contact Details: Purchase the Corporacion Andina de Fomento report to view the information. In 2004, the United States in particular continued to lead world growth with a GDP growth rate greater than 4%. Box, CH-8022 Zurich Telephone +41 44 631 31 11 Fax +41 44 631 39 10 Zurich, 13 September 2007 Monetary policy assessment of 13 September 2007 SNB aiming to calm the money market The, The Pacific Alliance A bright spot in Latin America May 2014 Agenda 1 2 3 What is it about? This section will briefly review these processes. These different trade options not only are non exclusive, but can actually be complementary. Venezuela, Ecuador and Bolivia rank 85 th, 90 th and 95 th, respectively. Corporacin Andina de Fomento July 2, 2018 Page 3 Assembly. The Importance of Investment Income and Transfers in the Current Account: A New Look on Imbalances. Rolf J. BOLIVARIAN REPUBLIC OF VENEZUELA. Nonetheless, it is important to stress that the benefits of FTAs alone are not enough. Unemployment fell to 9.1%, inflation to 6.8%, and most macroeconomic indicators exhibited important improvements 1. INTERNATIONAL ECONOMIC DEVELOPMENT 1/ 10.1 Overview of World Economy Latest indicators are increasingly suggesting that the significant contraction in economic activity has come to an end, notably. on the Draft Budgetary Plan of ITALY, Trade and Development Board Sixty-first session. PDF Re: Corporacin Andina de Fomento Registration Statement under Schedule For example, the framework agreement implies that for the first time ever WTO members have agreed to abolish all agricultural export subsidy mechanisms and reduce domestic agriculture support within a set deadline. Corporacion Andina de Fomento (Argentina) - EMIS Recently, Chile and the Central American countries have signed agreements of this type. To make this website work, we log user data and share it with processors. The Pacific Alliance. Currently, many of the region s countries are committed to intensifying trade negotiations and to deepening the process of regional integration, with the aim of increasing and improving their presence in world markets. It s a pleasure to be with you here in Montral today. A central pillar of this agenda is the attainment of sustained high and good quality growth efficient, employment generating and inclusive- which is essential for improving the living conditions of the poor. In the same way, possible advances towards a Free Trade Agreement (FTA) with the US are of relevance. Monetary, exchange rate and financial sector One of Latin America s most important achievements is having kept inflation at relatively moderate and homogeneous rates in most countries. Moreover, domestic savings continues to be low, which is manifested in shallow financial markets that especially affect small and medium enterprises. The Corporacin Andina de Fomento-Bond has a maturity date of 2/24/2027 and offers a coupon of 0.4500%. CAF Group Consolidated Annual Report for the 2022 financial year ( PDF ) CAF, S.A. 1.4 Informes de sostenibilidad; Descargar. Nonetheless, it is important to underline that the popularity of some leaders gives them leeway to move forward with reforms and strengthen democratic governance. This has translated into a 12.1% drop in unemployment, after having topped 18% in the beginning of This economic recovery, together with the drop in fiscal deficit to 2.3% of GDP and the stabilization of inflation at 9.1%, has contributed to improving the expectations of world financial markets and country risk. In fact, Latin America is the most unequal region in the world: while the Gini coefficient in for Africa and the Middle East was approximately 0.4 (out of 1, with 1 the highest level of inequality), Latin America registered Besides traditional indicators of poverty and income inequality, it is important to analyze other variables affecting human capital, the improvement of which can provide a way out of poverty. Excepto si se seala otra cosa, la licencia del tem se describe como CC-BY-NC-ND . Other countries in the region also face important challenges in their monetary and financial agendas.

Heritage Park Clarksville, Tn Field Map, Wedding Planner Houston, Articles C