The Latin American Reserve Fund, Fondo Latinoamericano de Reservas (Flar), was created in 1978 with the aim of helping member states address their external imbalances and foster regional integration. How would you assess the fund’s efforts?
Flar has strongly contributed to the macroeconomic and financial stability of the region. It has been one of the world’s most active regional financing arrangements, with over 50 loans to its member countries. In some critical episodes, such as during the