Climate change and financial stability in focus at 9th Joint RFA Research Seminar

MEDELLÍN – The 9th Joint Regional Financing Arrangements (RFAs) Research Seminar took place today in Medellín, Colombia. This one-day hybrid event is co-organised by the ASEAN+3 Macroeconomic Research Office (AMRO), the European Stability Mechanism (ESM), and the Latin American Reserve Fund (FLAR).

This year’s seminar centred on the multifaceted impact of climate change on macroeconomic and financial stability. The event opened with a presentation on the evolving roles of RFAs and the International Monetary Fund (IMF) in addressing climate risks.  This set the stage for three technical sessions dedicated to:

•    The macroeconomic implications of climate change;
•    Financial system vulnerabilities and resilience; and
•    The impact of climate change on public finances and sovereign credit risk.

The seminar concluded with a policy roundtable where experts discussed tools to address macroeconomic and financial stability risks stemming from climate change, strategies to boost economic and financial resilience, and the importance of international cooperation in advancing the climate agenda.

Since its inception in 2017, the Joint RFA Research Seminar has served as a unique platform for RFAs, central banks, finance ministries, international financial institutions, and academia experts to engage on policy issues of relevance to RFAs’ operations.

The RFAs will next convene at the 10th RFA High-Level Dialogue in October 2025, to be held in Washington, DC alongside the IMF/World Bank Annual Meetings.