IMF paper warns against ‘overburdening’ LatAm central banks
Working paper studies evolution of central banks in Latin America
Latin America leaders should avoid "overburdening" central banks with multiple mandates, as it risks undermining their credibility, according to new research published on March 17 by the IMF.
The working paper, Central Banking in Latin America: From the Gold Standard to the Golden Years, by Luis Jácome, details the "long and rocky road" central banks went through to achieve price stability.
It outlines three periods of history – the early years, dominated by the gold standard; a second stage of
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