Fondo Latinoamericano de Reservas

The Fondo Latinoamericano de Reservas (FLAR, Latin American Reserve Fund) is a multilateral financial organization of nine Latin American member nations, established on June 8, 1978 as the Fondo Andino de Reservas (Andean Reserve Fund) and reconstituted under its current name in 1988 to expand membership beyond the Andean countries; it is headquartered in Bogota. It extends short- and long-term credit to member states' central banks to support their balance of payments, works to harmonize members' exchange rate, monetary and financial policies, and manages a pool of international reserve assets on their behalf, offering liquidity assistance, contingent lending and external debt restructuring support with minimal policy conditionality.