From de CISS annual meeting in Guatemala (first report)

Today took place the inauguration of the XXV Meeting of the General Assembly of the CISS. In the following days we will sumarize the main messages of the presentations (as always, presentation will be available in the CISS web page). Rolando del Cid, CEO of the IGSS, our institution host, explained how the process related to the management of funds changed recently and their outcomes. He argued that a technical approach is needed to obtain good results. In particular he highlighthed three aspects as key to improve the outcomes: i) transparency on how the process is performed  and decisions are taken; ii) an adequate separation of functions; and iii) a system automatized with the use forefront technology. Del Cid mentioned that as a consequence of the change in the process of management of liquid reserves, the investments of the IGSS are getting returns above the passive rate of the banking system, contrary to what was happening in the past.