Sri Lanka successfully concludes 45th SAARCFINANCE Governors’ Meeting and Symposium

Monday, 17 June 2024 00:12 - - {{hitsCtrl.values.hits}}

The Central Bank of Sri Lanka hosted the 45th SAARCFINANCE Governors’ Meeting and Symposium during 13 and 14 June in Colombo.

The event was attended by the Governors, Finance Secretaries, and other delegates from the Central Banks and Ministries of Finance in the SAARC region.

The SAARCFINANCE Governors’ Symposium, themed “Central Banking amid Multi-faceted Global Economic Challenges,” was held on the first day of the event.

President and Minister of Finance, Economic Stabilisation, and National Policies Ranil Wickramasinghe, graced the inaugural ceremony and delivered the keynote speech. In his address, the President emphasised the importance of strengthening regional cooperation to tackle contemporary economic challenges and promote growth. He also reiterated the need for monetary and fiscal stability and highlighted the efforts being taken to strengthen the legal framework to ensure lasting stability in the country. SAARC Secretary General Ambassador Md. Golam Sarwar also attended the inauguration.

The day’s proceedings also comprised two insightful panel discussions. Nepal Rastra Bank Governor Maha Prasad Adhikari, Maldives Monetary Authority Governor Ali Hashim,and Secretary to the Treasury K. M. Mahinda Siriwardana were the panellists of the first panel discussion titled “Challenges and Opportunities of Evolving Global Economic Dynamics to SAARC Countries: Sharing Experience”. This was moderated by ODI Visiting Senior Fellow Dr. Ganeshan Wignaraja.

The second panel discussion was themed “Revisiting Monetary Policy Processes and Paradigms in SAARC Countries: Policy Puzzles, Solutions, and Lessons Learnt”. Panellists were Royal Monetary Authority of Bhutan Governor Dasho Penjore, Central Bank of Sri Lanka Governor Dr. Nandalal Weerasinghe and State Bank of Pakistan Deputy Governor Saleem Ullah, and the discussion was moderated by Institute of Policy Studies of Sri Lanka member and Monetary Policy Board Executive Director Dr. Dushni Weerakoon.

The 45th SAARCFINANCE Governors’ Group Meeting was held on the second day of the event, focusing on further enhancing cooperation and collaboration among member nations on various contemporary economic and financial sector matters.

SAARCFINANCE, established in 1998, is a permanent body comprising Governors of central banks and finance secretaries of SAARC member states. Its objective is to promote cooperation among central banks and finance ministries in SAARC member states, fostering close collaboration on

Macro-economic policies and sharing experiences.