Lessons From Ruth Krivoy, the Former Head of Venezuela's Central Bank
Odd Lots
Bloomberg
4.5 • 2K Ratings
🗓️ 29 October 2020
⏱️ 55 minutes
🧾️ Download transcript
Summary
The COVID-19 crisis has pushed central banks around the world into uncharted territory. Typically when we talk about this, it's from the perspective of the Fed or the ECB. But this has also been an extraordinary period for emerging market central banks. On this episode, we speak with Ruth Krivoy who ran the Venezuelan central bank in the early 1990s. She discusses the lessons she learned during that period and how they apply now.
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| 0:00.0 | Together we have the opportunity to build a more sustainable and inclusive future. |
| 0:06.0 | At the Bloomberg New Economy Forum, we help make this possibility a reality |
| 0:11.0 | by cultivating new connections among global leaders that transcend geographies, industries |
| 0:16.3 | and ideologies. |
| 0:18.4 | Because when global leaders work together, the outcomes benefit all of us. |
| 0:23.0 | Learn more at Bloomberg New Economy.com. Hello and welcome to another episode of the Odd Lots Podcast. I'm Tracy Alaway. |
| 0:45.0 | Tracy Alaway. |
| 0:48.0 | Tracy, obviously one of the big themes that we've been discussing for months or maybe years is that we really |
| 0:56.0 | are in a era of policy experimentation, particularly with respect to monetary policy. |
| 1:04.0 | I've been thinking about this. |
| 1:06.0 | Maybe we should change the name of odd thoughts to odd monetary policy, |
| 1:10.0 | unconventional monetary policy. |
| 1:12.0 | It does feel like we've been talking about this over and over and over and over. |
| 1:16.3 | Let's uh, let's revisit that name. That's fair enough. I don't know if it quite rolls off the tongue, but yes, I mean absolutely true just like an extraordinary amount of sort of rethinking thinking going on about the conventional wisdom that we've talked about. |
| 1:34.9 | I mean, we do episode after episode and just sort of like what people are learning. |
| 1:39.2 | And it really does feel like this moment is, you know, the the intersection of two things there's the long-term |
| 1:45.0 | trends and already there was the sort of rethinking about the shape of policy and then this |
| 1:50.0 | sort of acute need for immediate innovation and experimentation and aggressive action on the fly. |
| 1:59.2 | Yeah, I think it's that thing that people have been saying, which is that the coronavirus crisis has |
| 2:05.1 | basically accelerated a lot of the trends that we were seeing before this year. |
| 2:10.0 | So with Central Banking and with monetary policy, we had seen a lot of criticism about monetary |
| 2:16.7 | policy's ability to generate inflation, its ability to generate reasonable levels of growth. |
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