The Ministers of Economy of the Pacific Alliance, a bloc that includes Mexico, Colombia, Peru and Chile, have announced their willingness to work together on the individual structuring of sovereign debt listed investment funds or exchange traded funds (ETFs).
This was stated at the XXV meeting of the Council of Finance Ministers (CMF) which took place on Wednesday within the framework of the XVI Presidential Summit of the Pacific Alliance (AP) in Bogotá, Colombia. These investment instruments will be listed in the Latin American Integrated Market (MILA), according to a statement from the Pacific Alliance.
In a context marked by the challenges of economic reactivation, following the crisis caused by Covid-19, the CMF has managed to achieve tangible deliverables and progress on issues related to the integration of capital markets, cyber security, investment in infrastructure, climate finance, tax treatment, among others.
Ministers consider the measurement study of the Fintech ecosystems, the voluntary declaration of issuance of the exchange traded fund (ETF) of public debt and the consultation to implement best practices for the development of public-private partnerships (PPPs) of special relevance to the region) in infrastructure projects.
Mexico, on the other hand, has announced the mandates that will govern the CMF’s work plan for this year. During the coming months, the CMF will focus on fostering synergies and regional cooperation for the generation of public policies aimed at adopting environmental, social and governance criteria, in order to achieve a resilient and sustainable region.
Similarly, it will seek to promote the development and integration of financial markets, strengthen cyber security and promote the development of the Fintech industry to facilitate the transition to a digital economy.
The CMF will continue to promote dialogue and cooperation between the countries of the Pacific Alliance, in order to deepen financial integration and promote the economic development of the region.
Similarly, ministers have expressed their willingness to work together on the individual structuring of sovereign debt ETFs, which will be listed on the Latin American Integrated Market.
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