Chilean central bank joins regional foreign reserves network

Central Bank of Chile
Photo: Central Bank of Chile/Flickr

Chile’s central bank joined the Latin American Reserve Fund (Flar), a regional network of central banks that aims to foster foreign exchange stability.

The network accepted the Central Bank of Chile as a new member on February 16. The Chilean central bank becomes the fund’s ninth member, joining its counterparts from Bolivia, Colombia, Costa Rica, Ecuador, Paraguay, Peru, Uruguay and Venezuela. Its accession will boost Flar’s financing to $9 billion. Flar aims to support the balance of payments

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