CABEI inaugurates seminar on best public sector risk management practices
Speakers at the event include international experts in capital markets and financial product development, such as KPMG, ISDA, Citi, Shearman & Sterling, White & Case and Thomson Reuters.
Panama, September 13, 2016. – Today the seminar "Operational and Legal Aspects of Public Sector Risk Management" was held at the Hilton Hotel in Panama City. At the event, CABEI Executive Vice President Attorney Alejandro Rodríguez Zamora stated that, “The 2015-2019 Institutional Strategy of the Central American Bank for Economic Integration (CABEI) fosters initiatives that promote the mobilization of capital in order to create investments in the productive sectors and support the institutional modernization and strengthening processes of the countries of the Central American region.”
CABEI's increasing participation in the use of derivative financial instruments during recent years has enabled it to contribute to the development of markets with best practices and to build capacities in the region. The CABEI Executive Vice President noted that the seminar’s main objective is to promote best management practices with regard to market risk and credit risk among regional public sector officials, in addition to contributing to strengthening capital market regulation through the incorporation of international best practices.
Throughout its history, CABEI has placed 99 issues worldwide, amounting to more than US$8 billion, in public and private securities markets, of which 18 have been placed in Central America and the Dominican Republic for an amount equivalent to US$487 million, at terms ranging from 3 to 30 years in US dollars and local currencies.
The seminar, which lasts until tomorrow, includes speakers who are international experts in capital markets and the development of financial products, such as KPMG, ISDA, Citi, Thomson Reuters and the law firms Shearman & Sterling and White & Case. The event will be attended by public sector officials and project managers from Costa Rica, Argentina, Panama, Honduras, Colombia, Guatemala, Nicaragua and El Salvador.
CABEI has become one of the most active and sophisticated Central American participants in the global market for debt and derivative financial instruments, using them as hedging mechanisms to improve currency risks, interest rates and counterparty credit.
In this regard, Attorney Rodriguez emphasized that CABEI has contributed to the development of the region’s financial markets through various means, such as issuing securities, meetings and consultancies for regulatory entities, pension portfolio management seminars, the constitution of investment funds with a focus on regional fixed income assets, participation in private equity funds and through its shareholding in custody entities.
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