SAARCFINANCE Group Meeting and SAARCFINANCE Governors’ Symposium in Colombo

The Central Bank of Sri Lanka hosted the 34th SAARCFINANCE Group Meeting and SAARCFINANCE Governors’ Symposium in Colombo on 12 July. 

The 34th SAARCFINANCE Group Meeting was attended by Governors and Finance Secretaries and other delegates from the central banks and ministries of finance within the SAARC region. Following the SAARCFINANCE Group Meeting, the SAARCFINANCE Governors’ Symposium themed ‘Challenges for the SAARC region amidst global uncertainties and possible policy measures to mitigate these risks’ was held at the John Exter International Conference Hall of the Central Bank of Sri Lanka. Central Bank of Sri Lanka Governor Dr. Indrajit Coomaraswamy delivered the keynote speech at the symposium. Each SAARC country made a presentation, highlighting the impact of global uncertainties on their economies and possible policy measures to mitigate these risks. 

The preliminary results of the SAARCFINANCE collaborative research study on ‘Financial inclusion in the SAARC region’ were also presented at the symposium.

SAARCFINANCE is a permanent body at the level of governors of central banks and secretaries of finance of SAARC member states, as approved at the 22nd session of the Council of Ministers held in Kathmandu in June 2002. The objective of SAARCFINANCE is to promote cooperation among central banks and finance ministries within SAARC member states to forge a close cooperation on macroeconomic policies and to share experiences. 

SAARCFINANCE meetings are held at least twice a year. SAARCFINANCE submits a report to the SAARC Council of Ministers through SAARC finance ministers.