The Washington Consensus of the 1990s provided a new policy paradigm that met with uneven success in the region: economic growth has reached over 5% and poverty has fallen below 40% in the last three years. The challenges that lie ahead stem from the deepening process of globalization: to shield the region's economies in periods of global turbulence, to improve income distribution as the economies grow and to take full advantage of the opportunities and innovation potential afforded by the globalization of trade, culture and financial flows. The session include: José C. Grubisich, Chief Executive Officer, Braskem, Brazil; John Lipsky, First Deputy Managing Director, International Monetary Fund (IMF), Washington DC; Martín P. Redrado, President of the Central Bank of Argentina; Andrés Velasco, Minister of Finance of Chile; and Chaired by Pamela Cox, Vice-President, Latin America and the Caribbean, World Bank, Washington DC