Banco de España strengthens LatAm ties with new forum
The Banco de España has launched the LatAm Economic Forum, a new strategic initiative to deepen its engagement with Latin American economies and central banks. The forum aims to foster dialogue on key economic challenges facing the region.
Latin America: A core strategic priority
Latin America is a core strategic priority for the Banco de España, reflecting its deep importance for Spain's economy and banking sector.
Spain has maintained very close economic ties with the region since the 1990s, through significant banking and investment flows, alongside growing trade and immigration.
For instance, around 25 percent of Spanish banks' total assets are in Latin America, contributing to half of the earnings for major Spanish banks in 2025.
Moreover, 30 percent of Spain's foreign direct investment is held in the region.
The Banco de España closely monitors these economies, publishing a twice-yearly Report on the Latin American economy since 2003 and monthly updates of economic policy uncertainty indices for 18 countries.
This extensive analytical work establishes the Banco de España as the reference Eurosystem central bank for Latin America, ensuring a sound understanding of developments crucial for Spain's stability.
Deepening international cooperation
The Banco de España's commitment to Latin America extends to extensive international cooperation with peer institutions, including central banks, supervisors, and international financial organizations.
This cooperation, both bilateral and multilateral, facilitates the exchange of valuable knowledge and experiences, strengthening institutional ties.
Key partners include the Center for Latin American Monetary Studies (CEMLA), where the Banco de España became an associate member in 2021, and its governor has chaired the Board of Governors since May 2023.
The Banco de España also maintains cooperation agreements with ten Latin American central banks and three other regional institutions like the Latin American Reserve Fund (FLAR).
In 2025, a significant 52 percent (137 out of 263) of the Banco de España's international cooperation activities were directed exclusively at institutions in Latin America, underscoring the region's priority in its global engagement.
A timely platform for dialogue
The new LatAm Economic Forum represents a timely and crucial step for the Banco de España to solidify its regional leadership.
By fostering direct dialogue between governors and economists, it bridges academic insights with policy needs, mirroring successful global precedents like Jackson Hole and Sintra.
This initiative is particularly vital in an era of heightened geopolitical and economic uncertainty, reinforcing the value of collaborative central banking.