CARTAGENA, COLOMBIA - October 31 - November 1, 2012 – The Ministry of Finance of Colombia, the World Bank and the OECD organized a conference titled "Progress of global policies and practices and Latin American experiences".
Policymakers globally are increasingly concerned about the impact of low levels of financial literacy of their citizens. Lack of awareness about basic economics and personal finance prevent individuals from making informed decisions in an increasingly complex financial marketplace. This can have negative spillovers on individuals' wellbeing and that of their households and can ultimately hold back overall economic advancement in society.
The conference addressed the progress made so far in the development of policies, instruments and analysis by policy makers seeking effective approaches to developing financial literacy as an essential life skill for the 21st Century. The conference was global in scope but with a special focus on Latin America and the Caribbean: countries in the region have implemented successful solutions in the field of financial education in response to the financial literacy needs of their populations, to enable them to profit fully from sustained economic growth and expanding financial markets.
Examples of such solutions were presented together with the high-level guidance and practical toolkits developed under the Russia/OECD/World Bank Trust Fund on Financial Literacy and Education, including a recommendation on national strategies for financial education, practical tools and guidance on the measurement of financial literacy and methods for program evaluation together with additional outputs focusing on financial education in schools and for hard-to-reach groups.
Developing National Strategies, Measurement Tools and
Program Evaluation Methods
Developing National Strategies for Financial Education: OECD/INFE Principles and Roundtable of Latin American Experiences
Estrategia Nacional de Educación Financiera: Colombia
David Salamanca, Ministerio de Hacienda y Crédito Público, Colombia
Developing a National Strategy for Financial Education
Joao Evangelista de Sousa Filho, Central Bank of Brazil
Measuring Financial Literacy and Capability: International Tools and Evidence
Measuring Financial Capability in a Low- and Middle-income Setting
Elaine Kempson, University of Bristol, Kinnon Scott and Valeria Perotti, World Bank
Measuring Financial Literacy and Capability: Latin American Experiences
Measuring Financial Capability in Mexico
Luis Trevino Garza, Comisión Nacional Bancaria y de Valores, Mexico
Financial Capability Survey
Dairo Estrada, Banco Central de Colombia
Issues and Methods in Program Impact Evaluation
Olaf Simonse, Ministry of Finance, Netherlands
Targeted Financial Education Programs and Innovative Designs
Financial Literacy: Is There a Gender Issue?
Women and Financial Literacy in New Zealand
Diana Crossan, Commission for Financial Literacy and Retirement Income, New Zealand
Educación Financiera y Género en Colombia
María Del Pilar Esguerra Umaña, Central Bank of Colombia
Financial Education in the Classroom
Financial Education in Public High Schools
Sylvia Morais, Associação de Educação Financeira do Brasil
Child & Youth Finance International
Jared Penner, Child & Youth Finance International
Accessing Hard to Reach Groups