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Global Imbalances and Capital Flows in the Era of New Technologies

1011 September 2019
Banco de España, Madrid


Banco de España and the Reinventing Bretton Woods Committee (RBWC) organized a Conference on “Global Imbalances and Capital Flows in the Era of New Technologies” on September 10th & 11th 2019 at Banco de España’s Headquarters in Madrid.

A number of high-level speakers, including governors, deputy governors and senior officials from various international organisations, as well as top economists from academia and various think-tanks participated. Governor Hernández de Cos gave the Opening Remarks.

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10 September 2019
09.00 - 09.30
Opening remarks

Pablo Hernández de Cos File PDF: Opens in a new window (1 MB), Governor, Banco de España

09.30 - 11.00
Session I. G20 @ 20. The Debate on Global Imbalances: Past, Present, Future

Chair: Óscar Arce, DG Economics, Statistics and Research, Banco de España


11.30 - 13.00
Session II. China: 40 Years of Opening Up. New Challenges ahead for the World Economy

Chair: José Viñals, Group Chairman, Standard Chartered Bank


  • Alicia García Herrero, Chief Economist for Asia Pacific, Natixis
  • Zheng Liu File PDF: Opens in a new window (837 KB), Senior Research Advisor and Director of the Center for Pacific Basin Studies, Federal Reserve of San Francisco
  • Jacob A. Frenkel File PDF: Opens in a new window (1 MB), Chairman, JPMorgan Chase International
  • James Daniel, Assistant Director and Mission Chief for China, IMF
14.45 - 16.15
Session III. Emerging Economies: Managing the Permanence of Spillovers.

Chair: Julio Velarde, Governor, Banco Central de Reserva del Perú


16.30 - 18.15
Session IV. G20 @ 20. Reforms for Global Financial Resilience in the EPG Report

Chair: Margarita Delgado, Deputy Governor, Banco de España


  • Andrés Velasco, Dean of the LSE School of Public Policy and Member of the EPG Group
  • Elena Flores File PDF: Opens in a new window (317 KB), Director International Economic and Financial Relations; Global Governance, European Commission
  • Otávio Ribeiro Damaso, Deputy Governor for Regulation, Banco Central do Brasil
  • Turki Almutairi, Deputy Governor for Research and International Affairs, Saudi Arabian Monetary Authorit
  • Carlos San Basilio, Secretary General of the Spanish Treasury
20.00 - 22.00
Dinner Keynote Speech: Yi Gang, Governor, People’s Bank of China
11 September 2019
09.15 - 10.45
Session V. Central Bank Digital Currencies.

Chair: Ousmène Jacques Mandeng File PDF: Opens in a new window (172 KB), Senior Advisor, Accenture


  • Cecilia Skingsley, Deputy Governor, Sveriges Riksbank
  • Hyun Song Shin File PDF: Opens in a new window (304 KB), Economic Adviser and Head of Research, Bank for International Settlements
  • Jorge Ponce File PDF: Opens in a new window (1 MB), Manager of Economic Research, Banco Central de Uruguay
  • Tobias Adrian, Financial Counselor, IMF
11.15 - 12.45
Session VI. Capital Flows: Risks and Opportunities in a Digital Context

Chair: José Manuel González-Páramo, Head of Global Economics & Public Affairs, BBVA


  • Dan Morgan, Head of Regulatory Relations for Europe, Ripple
  • Jean-Pierre Landau, former Deputy Governor of Banque de France; Head of French Government special mission on cryptocurrencies
  • Luiz de Mello, Director of the Policy Studies Branch at the Economics Department, OECD
  • Qimiao Fan, EFI Director of Strategy & Operations, World Bank
12.45 - 13.00
Closing Remarks

Marc Uzan, Executive Director and founder, RBWC