Session 2—Monetary Policy Frameworks in Low Income and Developing Countries

IMF Seminar

imf seminars event

DATE: October 10, 2015

DAY: Saturday

4:00 PM - 5:00 PM Lima Time

LOCATION: Lima Convention Center 6 - Pachacamac

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A large number of Low and Lower Middle Income Countries (LLMICs) are now moving to more flexible and forward-looking frameworks for formulating, implementing, and communicating monetary policy. LLMICs face a number of important challenges in conducting monetary policy, including rapid structural change, large and frequent supply shocks, scarce analytical and operational capacity, and limited data availability. This session will explore the way forward for monetary policy frameworks in these countries, drawing where possible on the lessons from those who have gone before.

Session 2—Monetary Policy Frameworks in Low Income and Developing Countries

Revisiting Monetary Policy Frameworks


Moderator: Maurice Obstfeld


Maurice Obstfeld has been the Economic Counsellor and Director of Research at the International Monetary Fund since 2015. He is on leave from the University of California, Berkeley, where he is the Class of 1958 Professor of Economics and formerly Chair of the Department of Economics. He is a former member of the U.S. President’s Council of Economic Advisors, and the co-author of two leading textbooks ininternational economics.

Carlos Fernández Valdovinos


Carlos Fernández Valdovinos was designated president of the Central Bank of Paraguay (BCP) in October 2013 for a five-year period. From 2006 until his designation as President of the BCP he worked for the IMF as Senior Economist in the Africa, Europe and Western Hemisphere departments, and from 2011 onwards he was Resident Representative of the IMF for Brazil and Bolivia. He also worked for the World Bank as Senior Economist (2004–06). He has worked on various research projects and has published a number of papers.

Linah Mohohlo


Linah Mohohlo is the Governor of the Bank of Botswana.  In her capacity as Governor of the IMF for Botswana, she has been a member of the International Monetary and Financial Committee, representing the IMF Africa Group 1 Constituency. She served in the Commission for Africa, Lancet Commission on Investing in Health and UN High Level Panel of Experts on Recosting, and is a member of the Africa Progress Panel and Investment Committee of the UN Joint Staff Pension Fund.

Kofi Wampah


Kofi Wampah is the Governor of the Bank of Ghana, Ghana’s central bank. Previously, Mr. Wampah was the First Deputy Governor of the Bank of Ghana (2009 to 2012) with oversight responsibility for monetary policy, banking supervision and financial stability. Prior to this appointment, he was the Director of Research and Statistics of the West African Monetary Institute (WAMI) from 2001 to 2008 and before that the Director of Research, Bank of Ghana (1997-2001).