Continental Force

1. Newsletter sponsored by
Organizers
N° 10
August
23rd 2012
Sponsors
Platinum
Continental Force
The global economic crisis shows no sign of weakening threatening, in fact, to deepen. In spite of this
unfavourable background, Latin American economies continue to demonstrate their strength.
Peru, host nation of the XLVI Annual Felaban Assembly, Equally important are the improvements in rating afforded
has registered a year-on-year 7% growth in its GDP in June, Bolivia by SP and Moody’s in May and June of this year
achieving with it 6% growth for the first two quarters of 2012. respectively, along with those afforded Panama (SP) and
Over the same period, other important economies such as Uruguay (Moody’s) in July. Gold
those of Mexico, Chile, Colombia and Brazil, have registered All of this is nothing more than the reflection of the sound
levels of growth, which while lower than that of Peru, have economic policies implemented by several countries in the
surpassed analysts’ expectations. region, policies through which their ability to react in the face
In another area, Moody’s of severe global economic crisis
I nve s to rs S e rv i c e h a s is proven. Another issue worth
upgraded Peru’s sovereign highlighting is the healthy state
long-term bond ratings from of the banking and financial
Baa3 to Baa2. According to systems. This is possible thanks
Moody’s, the improvement to sound management by
in rating reflects factors such governmental authorities and
as the country’s reduced the high standards of quality
susceptibility to political and compliance of supervision Silver
eve n t r i s k , co n ti n u i n g and regulation of regional
a n d ro b u s t e c o n o m i c financiers. Certainly local
growth and sound fiscal banks have shown themselves
performance, improvements to be not only prudent, but
of government debt metrics also creative in their design of
a n d a re d u ce d l eve l o f products and financial services
exposure to debt in dollars. appropriate to the reality they
Colombia has enjoyed find themselves in. Copper
similar luck. Standard Poor's revised said country’s credit In general, the levels of international reserves, the flexibility
rating outlook from “stable” to “positive” and ratified its of the exchange rates, the stability of public finances, greater
investment grade. “The effective implementation of fiscal diversity of export markets are a few of the reasons which
reforms could improve the financial profile of Colombia by encourage us to believe that Latin American economies are able
reducing its debt and interest burdens,” SP declared in a to absorb major negative external shocks without their medium
press release. term economic growth being compromised.
Media Partners
On the Agenda For further information visit:
www.asambleafelaban2012.com
Schedule your involvement in the of Deloitte Touche. Roubini, sponsored by Scotiabank
main events of the XLVI Annual 19:00 Opening Cocktail sponsored by 13:00-15:00 Lunch conference by
Felaban Assembly, Lima 2012. BBVA Continental. Luis Carranza, ex Peruvian Minister of
Economy and Finance, sponsored by
Saturday 17 Lunes 19 Interbank
11.00 Registration begins, on the 09:00 – 10:30 Opening Session 19:00 Reception sponsored by Banco
ground floor of the Westin Hotel. with the participation of : de Credito del Peru.
WORLD FINANCE
• Luis Miguel Castilla, Peruvian THE VOICE OF THE MARKET
Sunday 18 Minister of Economy and Finance Tuesday 20
11:00 - 11:45 “The eyes of the • Keynote Speech by Nobel Prize 09:00-10:30 Round Table on China: Security Partner
World on Latin America”. winner Mario Vargas Llosa. Angel or Devil?
CUTRICOMIA
Presented by Christopher Harvey 11:00-11:45 Keynote Speech by Nouriel 10:30-11:30 Closing Ceremony.
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