Latin America’s central banks, having halted runaway inflation in the late in the later part of the 20th Century, now need greater latitude in their mandates to cope with the economic risks of the 21st Century, most of which are likely to originate outside the region, according to a group of the region’s top finance experts.

My guest on this week’s Wonkcast is CGD senior fellow Liliana Rojas , chair of the Latin American Shadow Financial Regulatory Committee (CLAAF), and our topic is the latest policy statement from CLAAF, which brings together the region’s top economists, mostly former ministers of finance and heads of central banks.