IMF Conference

12:00–1:45 p.m.

Informal Lunch

2:00–2:30 p.m.

Agustín Carstens, Deputy Managing Director, IMF and Mario Alonso Icabalceta, President, Central Bank of Nicaragua

2:30–3:30 p.m.

Session 1: Policies to Promote Financial Sector Integration and Stability

Central America's financial systems are becoming increasingly integrated. This process promises major benefits, but also carries important risks. In particular, unless well managed, it could undermine domestic supervision and create additional contagion risks. Harmonizing prudential norms, increasing collaboration among supervisors, and strengthening consolidated supervision will help the region to capitalize on the opportunities that integration has to offer. This session will identify best practices in cross-border coordination and consolidated supervision, and present steps that could be taken toward this goal in the region.

Commentator:

Floor open for discussion

3:30–5:00 p.m.

Session 2: Panel Discussion: Priorities to Strengthen Consolidated and Cross-Border Supervision

Panel members will highlight the priorities for improving regional cooperation in financial supervision from the perspective of their countries, and discuss the specific proposals for regional cooperation presented in the previous session.

Delia Cárdenas, Chairperson—Central American Council of Superintendents of Banks; Superintendent of Banks, Insurance, and other Financial Institutions, Panama

Hector Manuel Valdez Albizu, Chairperson—Central American Monetary Council and President, Central Bank, Dominican Republic

Francisco de Paula Gutiérrez, President, Central Bank of Costa Rica

María Elena Mondragón, President, Central Bank of Honduras

Luz María Serpas de Portillo, President, Central Bank of El Salvador

Mario Alonso Icabalceta, President, Central Bank of Nicaragua

Lizardo Sosa López, President, Central Bank of Guatemala

Juan De Dianous, General Manager, National Bank of Panama

5:00–5:30 p.m.

Coffee break

5:30–6:30 p.m.

Session 3: The Impact of the Abolition of Textile and Clothing Quotas on Central America

The textile and clothing sectors are an important source of value added, employment, and foreign exchange earnings in Central America. The recent expiration of the Agreement on Textiles and Clothing (ATC) implies that competition from abroad, especially China and India, is likely to increase. This session will analyze the potential impact of the expiration of ATC and discuss available policy options.

Chair:

Speakers:

Hans-Peter Lankes, Division Chief, Policy Development and Review Department, IMF

Floor open for discussion

7:30–10:00 p.m.

Introductory remarks:

Keynote speaker:

9:30–10:30 a.m.

Session 4: Coordination of Tax Policy and Administration

As regional integration in Central America progresses, cross-border tax policy and administration issues are becoming increasingly relevant. With revenue mobilization a policy focus in many countries—given tight overall fiscal constraints and large investment and social spending needs—increased regional cooperation can be particularly helpful, for example, in avoiding harmful tax competition and coordinating cross-border tax administration issues. This session will look at the experience with tax coordination in Europe, and suggest a possible agenda for increased cooperation among Central American tax authorities.

Chair:

Speakers:

Teresa Ter-Minassian, Director, Fiscal Affairs Department, IMF
Tax Coordination: An Agenda for Central America

10:30–11:00 a.m.

Coffee break

11:00–12:30 p.m.

Session 5: Round Table Discussion on Priorities for Regional Tax Coordination—What Can be Done?

Ministers of Finance would highlight the priorities for regional tax coordination from the perspective of their countries, and discuss the specific proposals for regional cooperation presented in the previous session.

Chair:

Panel:

Maria Antonieta de Bonilla, Minister of Finance, Guatemala

Vicente Bengoa, Minister of Finance, Dominican Republic

Manuel Rosales, Advisor, Ministry of Finance, El Salvador

William Chong Wong, Minister of Finance, Honduras

12:30–12:45 p.m.

Closing Remarks:

1:00–2:00 p.m.

Informal Lunch