Global Leaders Fellow presents analysis of Brazil’s response to financial crisis to senior policymakers

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On 24 July, Global Leaders Fellow Camila Villard Duran presented her analysis of the international lender of last resort for emerging countries and Brazilian responses to the 2008 financial crisis at a conference on Banking, Financial Instability, and Financial Governance in Brazil. The Brazilian Minister of Planning, Budget and Management Nelson Barbosa gave a keynote speech at the meeting, and dialogued with senior policymakers, economists and analysts at the FORD-MINDS Conference, held in São Paulo.

Dr Villard Duran's comments were drawn from a working paper recently published by the Global Economic Governance Programme entitled The International Lender of Last Resort for Emerging Countries: A Bilateral Currency Swap?

The conference was supported by the Ford Foundation, and was staged to assess the structure of Brazil’s financial system to ensure stability for a growing and equitable economy. During the meeting, Dr Villard Duran explained various Brazilian internal political measures to respond to financial instability and the problems related to their institutional design, including problems related to conflict of interests and moral hazard of the Brazilian deposit insurer. 

Camila Villard Duran's working paper can be downloaded from the link below, and a full conference programme and participant biographies can be found at the Banking, Financial Instability, and Financial Governance in Brazil website.