Centro de Estudios Monetarios Latinoamericanos

What Centro de Estudios Monetarios Latinoamericanos does

Centro de Estudios Monetarios Latinoamericanos (CEMLA) is a Mexico City-headquartered non-profit civil association (Asociación Civil) founded in 1952, operating as the institutional association of central banks and monetary authorities across Latin America and the Caribbean. Its membership comprises 47 institutions (29 of them associate members), and the organization is governed by a Junta de Gobierno composed of central bank governors, currently with Pablo Hernández de Cos (Governor of Banco de España) serving as President and Dr. Manuel Ramos Francia as Director General.

CEMLA's product portfolio spans four broad categories. First, training and capacity-building: courses and workshops on monetary and financial statistics, international reserves statistics, DSGE models, macroprudential policy, financial market infrastructures, SupTech/RegTech, and machine learning for central banking - delivered both in-person at the Mexico City headquarters and virtually, often with co-instructors from the IMF, BIS/FSI, Deutsche Bundesbank, and member central banks (138 representatives from 23 institutions attended the V Course on Financial Market Infrastructures in May 2025). Second, research and publications: the Latin American Journal of Central Banking (LAJCB), a peer-reviewed journal co-published with Elsevier (Q2 CiteScore 2.9 and Q2 SCImago in 2025, plus ESCI indexing); research documents; and the Notas de Remesas series providing granular data on Mexican migrant labor markets and remittance flows ($137,577 million to the top six Latin American recipients as of April 2026). Third, data services: multiple microsites including Selected Macroeconomic Membership Data, Term Premium Estimates, Fiscal-Monetary, and the YellowBook on payment systems. Fourth, convening platforms: recurring forums (Fintech, Financial Stability, Financial Information, Monetary Policy) hosted in rotating member-country venues (Lima, Santiago, Brasília, Bogotá, Cartagena, San Antonio), plus the annual CEMLA Conference (XXX Meeting of the Central Banking Research Network) and the Premio de Banca Central research award.

The business model is membership-funded: annual dues paid by the 47 member central banks cover the full spectrum of activities, with no commercial product distribution, no third-party investor capital, and no public funding. Revenue figures are not publicly disclosed. The go-to-market motion is event-driven and institutionally relationship-based - there is no direct-to-customer sales channel outside member banks and affiliated invitees. Marketing is conducted through the cemla.org website, social media (Facebook, Twitter/X, LinkedIn, CanalCEMLA on YouTube), the Boletín CEMLA newsletter, and earned media coverage of remittances research in outlets such as El País, Milenio, Bloomberg, and Reuters.

Name

Centro de Estudios Monetarios Latinoamericanos

Legal name

Centro de Estudios Monetarios Latinoamericanos, A. C.

Website

https://cemla.org

Company type

Private

Founded year

1952

Operating status

Operating

Headcount range

51–100 employees

Short description

Centro de Estudios Monetarios Latinoamericanos (CEMLA) is a Mexico City-based non-profit association of 47 central banks across Latin America and the Caribbean, founded in 1952, delivering technical training, peer-reviewed research, and convening forums on monetary policy, financial stability, payment systems, and remittances.

Ownership category

akta.pro rank

Product category

Central Banking Research and Training

NAICS

Professional Organizations (81392), Business Associations (813910)

SIC

Finance Services (6199)

akta.pro primary industry

Finance, Accounting & Risk (CFA/CPA/FRM) Certifications (EDAAANAD)

Keywords

• Central bank training
• Monetary policy research
• Financial stability forums
• Macroeconomic data services
• Central banking publications

Headquarters

HQ city

Mexico City

HQ country

Mexico

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Membership dues from central banks: CEMLA is a membership association of Latin American and Caribbean central banks. The organization is financed by contributions from its member central banks, which include 47 members total (29 associates). Annual membership dues fund the full spectrum of activities including courses, conferences, forums, publications, and research programs.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

CEMLA is a non-profit membership association of central banks that delivers capacity-building courses and workshops, peer-reviewed research publications including the Latin American Journal of Central Banking (LAJCB) and the Remittance Notes series, recurring policy forums, and curated macroeconomic and payment systems data microsites. Its services are directed exclusively to central banks and monetary authorities of Latin America and the Caribbean, and funded through member contributions.

Product overview

CEMLA operates as a professional association of Latin American and Caribbean central banks, offering a portfolio of research publications, professional development programs, data services, and convening platforms. The core offerings include the Latin American Journal of Central Banking (LAJCB), a peer-reviewed academic journal published with Elsevier; research documents and remittance analysis notes; training courses and workshops on central banking topics; multiple specialized forums (Fintech, Financial Stability, Financial Information, and others); and data microsites covering macroeconomic membership data, term premiums, and fiscal-monetary analysis. The organization also administers the annual Premio de Banca Central CEMLA research award and manages an internship program. These products collectively support capacity building, technical exchange, and research dissemination across the regional central banking community.

Differentiator

Problem solved

Functional benefit

Brands

• Latin American Journal of Central Banking (LAJCB): Academic journal published by CEMLA covering topics in central banking, monetary economics, financial stability, and related disciplines. Published in collaboration with Elsevier.
• Premio de Banca Central CEMLA
• Red de Investigadores de Banca Central
• Foros de Banca Central

Products and services

• Latin American Journal of Central Banking (LAJCB) A peer-reviewed academic journal published by CEMLA in collaboration with Elsevier on ScienceDirect, covering research on central banking, monetary economics, financial stability, and related topics. Indexed in Scopus (Q2 CiteScore 2.9 in 2025), SCImago (Q2, 52nd percentile), and Web of Science ESCI. Targeted at central bank researchers, academics, and policy professionals.
• Training Courses and Workshops Capacity-building programs for staff of member central banks covering monetary and financial statistics, international reserves, DSGE models, machine learning for central banking, SupTech and RegTech, macroprudential policy, financial market infrastructures, and numerical methods. Delivered in person at CEMLA Mexico City and virtually, often co-organized with the IMF, BIS/FSI, and Deutsche Bundesbank.
• CEMLA Central Bank Forums
• CEMLA Conference - Central Banking Research Network
• Notas de Remesas (Remittance Notes)
• Research Papers (Documentos de Investigación)
• Macroeconomic Membership Data Microsite
• Term Premium Estimates Microsite
• Fiscal-Monetary Microsite
• YellowBook Microsite
• Internship Program (Pasantías)

Quantifiable outcome

• LAJCB achieved Q2 CiteScore of 2.9 in 2025 (from 1.7 in 2023) and Q2 SCImago ranking in the Economics and Econometrics category
• +3 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

19 partnerships are on record, tiered core and minor.

• Bank for International Settlements / Financial Stability Institute (BIS/FSI)coreStrategic or Co-development PartnerCEMLA and the BIS Financial Stability Institute co-organize Virtual Policy Implementation Meetings on topics such as NBFI (non-bank financial intermediation) and liquidity risk scenario analysis. These are flagship technical events for the region's central bank supervisors and financial stability professionals.
• International Monetary Fund (IMF)coreStrategic or Co-development PartnerThe IMF Statistics Department co-sponsors and co-teaches courses at CEMLA on Monetary and Financial Statistics, International Reserves Statistics, and Quantitative Models for the Integrated Policy Framework. IMF instructors deliver training at CEMLA facilities in Mexico City.
• Banco de EspañacoreStrategic or Co-development PartnerThe Banco de España co-organizes the Fintech Forum Meeting, the Financial Risk Management at Central Banks meeting, and the Financial Market Infrastructures meetings with CEMLA. It also hosts the Spring Board of Governors meeting in Roda de Bará, Tarragona, Spain (2026).
• Banco Central de Reserva del PerúcoreStrategic or Co-development PartnerCEMLA and the Banco Central de Reserva del Perú co-organized the VIII Fintech Forum Meeting in Lima, Peru (March 2025). The Peruvian central bank also participates in the Financial Risk Management and Financial Market Infrastructures forums.
• Banco de MéxicocoreStrategic or Co-development PartnerBanco de México co-organizes the Financial Risk Management at Central Banks meetings, hosts the Committee of Alternates meetings, and is a key partner in the Financial Market Infrastructures forums. It also participates in the Fintech Forum and financial stability meetings.
• Banco Central de ChilecoreStrategic or Co-development PartnerCEMLA and the Banco Central de Chile co-organized the XI Financial Information Forum of Central Banks (June 2025, Santiago) and the Heterogeneous Agents Models Workshop (July 2025, Santiago). The Chilean central bank also co-organizes the Financial Risk Management meetings.
• Banco Central do BrasilcoreStrategic or Co-development PartnerCEMLA and the Banco Central do Brasil co-organize the Financial Risk Management at Central Banks meetings (VI edition held in Brasília, June 2025) and the Human Resources Committee Meeting. Brazil's central bank presented PIX and Open Finance projects at the Financial Market Infrastructures course.
• Deutsche BundesbankcoreStrategic or Co-development PartnerDeutsche Bundesbank co-organizes the VII Course on Machine Learning and Central Banking (theoretical and practical editions, August-September 2026). At the Fintech Forum, Bundesbank presented tools for sustainability reporting and institutional geotracking using generative AI.
• Federal Reserve Bank of DallascoreStrategic or Co-development PartnerCEMLA and the Dallas Fed co-organize the annual Financial Stability Workshop (4th edition November 2025, San Antonio; 5th edition November 2026 planned). These conferences address topics such as NBFI, market liquidity, monetary-fiscal policy trade-offs, and macroprudential policy design.
• Banco Central de Costa RicacoreStrategic or Co-development PartnerThe Banco Central de Costa Rica co-organizes the Financial Risk Management at Central Banks meetings and the Financial Market Infrastructures meetings with CEMLA.
• Banco de la República (Colombia)coreStrategic or Co-development PartnerThe Banco de la República (Colombia) co-organizes the IX Fintech Forum Meeting (Cartagena, 2026) and the DSGE Models for Central Banks course (Bogotá, March 2026). Colombian presenters shared the Bre-B fast payment system at the Financial Market Infrastructures course.
• Universidad de MiamiminorStrategic or Co-development PartnerThe Universidad de Miami hosted the CEMLA 2025 Conference — XXX Meeting of the Central Banking Research Network (November 2025). The conference featured a keynote by Mário Centeno (former Governor of Banco de Portugal) and a roundtable with James Bullard, Felipe Larraín, and Boris Vujčić.
• Elsevier (Latin American Journal of Central Banking)coreTechnology or IntegrationElsevier publishes the Latin American Journal of Central Banking (LAJCB) on its ScienceDirect platform. The journal is indexed in Scopus (Q2), SCImago (Q2), and Web of Science ESCI.
• Fondo Latinoamericano de Reservas (FLAR)minorStrategic or Co-development PartnerFLAR co-sponsors the IX Fintech Forum Meeting scheduled for Cartagena, Colombia in May 2026.
• Asociación de Supervisores Bancarios de las Américas (ASBA)minorStrategic or Co-development PartnerASBA co-organizes the IMF-CEMLA-ASBA Workshop on Cyber Resilience in Latin America and the Caribbean scheduled for October 2026.
• Banco Nacional de PanamáminorStrategic or Co-development PartnerBanco Nacional de Panamá co-organizes the VII Course on Machine Learning and Central Banking (practical edition) in Panama in September 2026.
• Magyar Nemzeti Bank (Hungary)minorStrategic or Co-development PartnerMagyar Nemzeti Bank (Hungary) co-organizes the Financial Stability Conference titled 'Prudently Catalyzing Competitiveness' scheduled for Budapest, Hungary in September 2026.
• INEGI (Instituto Nacional de Estadística y Geografía, México)minorStrategic or Co-development PartnerINEGI co-organizes the Course on the System of National Accounts 2025 scheduled for August 2026.
• LNET / BID labminorStrategic or Co-development PartnerLNET (BID lab) co-organizes a Seminar on Central Bank Digital Currencies: Conceptual Foundations, Models, and Contemporary Debate scheduled for October 2026.

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Macroeconomic and Financial Management Institute of Eastern and Southern Africa (MEFMI): Regional institute serving central banks in Eastern and Southern Africa with macro-financial training, research, and technical assistance. Direct regional analog to CEMLA — dues-funded membership model, capacity-building courses, and a similar convening mandate — useful for cross-regional program comparison.
• Bank for International Settlements (BIS): Global association of central banks that convenes governors, hosts peer-reviewed research (BIS Working Papers, BIS Quarterly Review), and runs training via its Financial Stability Institute. Functionally the global analog of CEMLA: convening, research, and capacity-building for central banks — the primary difference is geographic scope (worldwide vs. LatAm/Caribbean) and scale.
• Bank of England — Centre for Central Banking Studies: Training arm of the Bank of England that delivers courses to central bank staff globally on monetary policy, financial stability, and supervisory topics. A peer in central bank staff training — a more specialized offering than CEMLA's broader Latin American convening, but with strong overlap in course content and audience.
• Federal Reserve Bank of Dallas: U.S. regional Federal Reserve Bank that co-organizes the annual CEMLA Financial Stability Workshop (4th edition in San Antonio 2025, 5th planned for 2026) and presents at CEMLA's Financial Market Infrastructures course. A peer in convening central bank research events on financial stability, NBFI, and macroprudential policy, with a U.S. Southwest focus rather than LatAm.
• SEACEN Research and Training Centre: Regional research and training center for central banks in South East Asia, New Zealand, and the Pacific. Closest functional twin to CEMLA in Asia — member-funded, courses on monetary policy and financial stability, and a regional convening role — making it a natural peer for benchmarking programming and membership model.
• West African Institute for Financial and Economic Management (WAIFEM): Capacity-building institute for central banks and finance ministries in West Africa, providing macroeconomic and financial management training. Mirrors CEMLA's model of training central bank staff on monetary and financial policy topics under a member-funded, regionally focused structure.

Broad incumbents

• International Monetary Fund (IMF): Global institution that provides macroeconomic research, capacity development, and training to central banks worldwide — including co-organized courses at CEMLA (Monetary and Financial Statistics, International Reserves, Quantitative Models). Much larger and broader scope than CEMLA, but a frequent partner and occasional substitute for technical training demand.
• Board of Governors of the Federal Reserve System: U.S. central bank that produces monetary policy research, hosts academic conferences, and trains central bank economists globally. Much larger and more resourced than CEMLA, with overlapping topics in monetary economics, financial stability, and payment systems research, but broader geographic and policy scope.
• European Central Bank (ECB): Central bank for the euro area that conducts monetary policy research, publishes working papers, and runs training programs for ESCB national central banks. Overlaps with CEMLA in monetary policy research and central bank staff training, but at vastly greater scale and with a European (not LatAm) membership base.

Others

• SUERF (European Money and Finance Forum): Pan-European academic and policy network for monetary economics and finance, hosting conferences, lectures, and publications on topics similar to CEMLA's research agenda. Adjacent ecosystem player — not a training institute or central bank — but shares CEMLA's focus on convening economists and disseminating central banking research.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/cemla
• YouTubeyoutube.com/user/CanalCEMLA
• Facebookfacebook.com/CEMLA.org
• LinkedInlinkedin.com/company/cemla

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about Centro de Estudios Monetarios Latinoamericanos