Remarks by Rodrigo de Rato, Managing Director of the International Monetary Fund at the Mexican Bankers Association Convention
As Prepared for Delivery
1. [Introduction.] Good morning. It is an honor to participate in this important conference. I welcome the occasion to discuss how the IMF sees the opportunities and challenges facing Latin America today. It is fitting that I am making these remarks in Mexico, a country that has transformed itself politically and economically over the past decade into a vibrant multiparty democracy and a model of sound macroeconomic management. Indeed, such transformations are occurring in emerging economies around the globe. A central theme of my vision for the Fund's medium-term strategy is to support these countries in new and different ways—with less need for standard program relationships and more work on understanding financial market risks and on mechanisms to insure against crises. In this new era for emerging markets, the stakes are high and the rewards great for those countries that can adapt and change to compete effectively in the global economy.
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