IDB-BID

The economies of Latin America and the Caribbean have evolved considerably. Economies once dominated by the public sector are freer and more private-sector oriented. But the progress made during the 90s has slowed recently. And commercial banks are still reluctant to lend to the small and medium-size companies that, while accounting for 50 percent of the region’s GDP, still lack long-term financing. Domestic capital markets cannot or will not provide that financing. Most foreign investment is going to established, larger companies.

In this setting, the seminar will address crucial issues for the future performance of Latin American and Caribbean economies. Particular emphasis will be given to business strategies for spurring economic growth and to the role of the financial markets vis-à-vis the growing needs of the private sector. Subject experts will answer these—and other—key questions: 1) What obstacles does the legal framework pose for business? 2) Are microeconomic policies (environmental, labor, tax, judicial) conducive to growth? 3) Are there other impediments to growth (corruption, violence, etc.)? 4) What obstacles (legal, economic) does the financial system face in lending to the private sector--particularly to small and medium-size companies? 5) Why can’t the full range of financial products and services needed to fund business growth be offered? 6) Are the capital markets a solution? 7) Can they develop in the context of Latin America?
Contact: Antonio Vives - antoniov@iadb.org
Jorge Roldán - jorgero@iadb.org
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2:30 p.m.-2:45 p.m.
Welcoming remarks
José De Gregorio, Minister of Economics, Chile
Enrique V. Iglesias, President of the Inter-American Development Bank and Chairman of the Board of Executive Directors of the Inter-American Investment Corporation
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2:45 p.m. - 3:00 pm
Introduction
Ricardo Ariztía de Castro, Presidente, Confederación de la Producción y del Comercio, Chile
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3:00 p.m.-4:15 p.m.
Business Strategies to Promote Growth

Moderator:
Jacques Rogozinski, General Manager, Inter-American Investment Corporation

Speakers:
Vicente Caruz, President, Banco del Desarrollo, Chile
Fernando Xavier Ferreira, President, Telefónica de Brasil
Eugenio Clariond Reyes Retana, President and CEO, Grupo IMSA, Mexico
Benjamin Fernandez, President, Latin American Agribusiness Corporation
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4:15 p.m.-4:45 p.m.
Break
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4:45 p.m.-6:00 p.m.
Financial Markets: What is needed, what can be done by the private sector?

Moderator:
Antonio Vives, Deputy Manager, Infrastructure, Financial Markets and Private Enterprise, SDS, Inter-American Development Bank

Speakers:
Daniel Llambías, Director Ejecutivo, División Negocios Mayoristas, Banco de Galicia y Buenos Aires
Antonio Zoido Martínez, President, Bolsa de Madrid
Hernan Somerville, President, Asociación de Bancos de Chile
Arturo Porzecanski, Managing Director, Emerging Markets Research, ABN/AMRO Bank
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6:00 p.m.-6:30 p.m.
Closing remarks
Ricardo Angel Gutiérrez, Vice-president, Executive Committee, FELABAN
Salvador Carbó, President, CEAL
Karen Poniachik, Executive Vice-President, Foreign Investment Commission, Chile
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6:30 p.m. Reception hosted by Banco del Desarrollo, Chile

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