Weathering the global storm (Canales-Kriljenko, Ivan et alli.)

Weathering the global storm: the benefits of monetary policy reform in the LA5 countries, by Jorge I. Canales-Kriljenko, Luis I. Jácome, Ali Alichi, and Ivan L. de O. Lima, published by IMF. This paper highlights that central banks from Brazil, Chile, Colombia, Mexico, and Peru (the LA5 countries) reaped the benefits of what they sowed in successfully weathering the global crisis. The adoption of far-reaching institutional, policy, and operational reforms during the last two decades enabled central banks to build credibility about their commitment the objetive of price stability.