BOGOTÁ, COLOMBIA – Financial Football was one of the items on the agenda as the first day of the Fourth Latin American Congress of Financial Education by FELABAN /Second CYFI Regional Meeting for the Americas and the Caribbean took off. Leaders and policymakers from a variety of sectors got together to share innovations, ideas and collaborate on financial education and inclusion for children and youth. Some of the topics discussed where how to promote responsible consumption and sustainability for the next generation.
It was with an electric atmosphere that the first day of the Fourth Latin American Congress of Financial Education by FELABAN and Second CYFI Regional Meeting for the Americas and the Caribbean came to an end. Participants from a wide arrange of sectors in the region, such as financial institutions, Ministries of Finance and Education, NGO’s, foundations as well as leading researchers got together in Bogotá, Colombia. Topics discussed during the day included Responsible Consumption and Sustainability, Behavioral Economics, the Landscape of Financial Education and the role Mass Media can play in this as well as experiences on Financial Education. The participants had gathered to network, collaborate and share innovations and opinions on the topics of financial education.
One of the most memorable sessions of the first day was the “Financial Football”; a game of questions between two countries, played in the atmosphere of a football game. Two teams squared off: Columbia (the host country) and Chile (who not coincidentally will be facing off again Columbia today for a World Cup qualifying match). After a succession of questions; “What is the role of the World Bank?” and “What is the difference between fixed and variable interest rates?” Chile was poised for a shot. After a quick response Chile’s shot was on target but a correct response to another difficult question about derivatives by the Columbian Goalkeeper kept the ball out of the net.
The Columbians started the second half with the ball and, after a series of correct answers were in the Chilean box. An excellent shot based on currency fluctuations was on goal, and while the shot appeared to be blocked by the Chilean goalkeeper, a controversial goal was nonetheless awarded. The game ended with a 1-0 Columbia win. There was much good natured taunting and ribbing by the winning team and the teams left to Plenary room together in smiles. It was a fantastic match.
The meeting serves as a true milestone for youth financial inclusion and economic citizenship in the region of the Americas and Caribbean. With the collaboration between FELABAN, ASOBANCARIA and CYFI, this unique meeting is 2013’s biggest event dedicated to youth financial education in the region. The meeting gives children and youth the opportunity to express their own opinions and needs to the attending high level policy makers and leaders.
About the FELABAN Latin American Congress on Financial Education
The Latin American Congress of Financial Education is an initiative of the Latin American Banking Federation (FELABAN), which in 2013 has the support of the Association of Banks of Colombia (ASOBANCARIA). In 2013 FELABAN, ASOBANCARIA and Child and Youth Finance International decided to join efforts to host a joint event which represents the largest regional gathering of its kind. The objective of the CLEF 2013 is to allow stakeholders to share knowledge on public-and private partnerships and multilateral organizations approach financial education and the challenges posed by technological innovations in financial products and services to deepen financial penetration and reduce informality.