Latin American Reserve Fund

Fonds latinoaméricain de réserve
Fondo Latinoamericano de Reservas (FLAR)

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Contact Details

URL: http://www.flar.net/

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Founded

1976-11

History

Established Nov 1976, as Andean Reserve Fund (ARF) -- Fonds andin de réserve -- Fondo Andino de Reservas (FAR), by representatives of the governments of Bolivia, Colombia, Ecuador, Peru and Venezuela, in accordance with Article 89 of T-XT6969 - Andean Subregional Integration Agreement (Cartagena Agreement), providing for the creation of a Common Reserve Fund. Establishment followed meetings of Governors of the Central Banks of Cartagena Agreement member countries: 13-14 Feb 1976, Lima (Peru) (when a draft Treaty to establish the Fund was approved); 11 Nov 1976, Caracas (Venezuela) (when the Treaty was adopted). The Treaty was signed by plenipotentiary representatives, 12 Nov 1976, Caracas, and entered into force 8 Jun 1978. In 1987-1988 it was decided that ARF constituted a solid foundation on which to build a financial institution for balance of payments support at the Latin American level. The 'Agreement for the Establishment of the Latin American Reserve Fund', LARF, was signed 10 Jun 1988, Lima, and Articles of said Agreement (transforming ARF into LARF) took effect on 12 Mar 1991. As a consequence, the transformation allowed other Latin-American countries besides those of the Andean Community to become members of LARF. Costa Rica became the 6th member on 30 Mar 1999; Uruguay the 7th on 19 Jun 2007; Paraguay the 8th on 24 Nov 2013. LARF maintains close contacts with the F-XD0055 - Andean Community, with its principal organs and with F-XF0409 - Development Bank of Latin America (CAF). In this context, it is an organ of the F-XF4919 - Sistema Andino de Integración (SAI).

Aims

Provide balance of payments assistance to member countries by extending credits or guaranteeing loans from third parties; contribute to harmonization of foreign exchange, monetary and financial policies of member countries by assisting them to fulfil their commitments within the framework of the Cartagena Agreement and the Montevideo Treaty of 1980; improve conditions for the investment of international reserves of member countries.

Events

13 past events available with paid subscription only.

Activities

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Structure

Assembly of Representatives (annual); Board of Directors (meets at least 3 times a year). Committees.

Languages

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Staff

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Finance

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Relations with Inter-Governmental Organizations

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Relations with Non-Governmental Organizations

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Publications

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Members

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Type I Classification

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Type II Classification

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Subjects *

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UIA Org ID

XF5466

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** UN SDGs are linked to the subject classification.

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