Central Bank co-hosts 4th CBSL-ADBI-APAEA joint workshop

Saturday, 28 October 2023 00:24 - - {{hitsCtrl.values.hits}}

The Central Bank of Sri Lanka co-hosted the CBSL-ADBI-APAEA workshop for the fourth consecutive year, in collaboration with the Asian Development Bank Institute (ADBI) and the Asia-Pacific Applied Economics Association (APAEA), on 27 October 2023 at the John Exter International Conference Hall of the Central Bank.

This year’s conference was held under the theme of ‘Monetary Policy and Central Banking Issues in Asia and the Pacific’.

In his inaugural address, CBSL Governor Dr. P Nandalal Weerasinghe highlighted several critical challenges confronting many economies. These challenges primarily stem from the sluggish and uneven global economic recovery, soaring inflation, and geopolitical tensions.

These factors are compelling central banks to prioritise the task of stabilising their respective economies. He emphasised the growing apprehension shared by both advanced and emerging market economies, as they grapple with the delicate balancing act of fostering economic growth while simultaneously upholding overall macroeconomic stability.

Additionally, he underscored the significance of fostering research collaborations between academia and policymakers to address the diverse issues faced by economies in the midst of the current high volatility in the global economic landscape.

ADBI Dean and CEO Prof. Tetsushi Sonobe delivered opening remarks and noted how challenging the conduct of monetary policy is going to be in the context of emerging market economies in the times with multiple crises, exacerbated by the financial stability concerns. He emphasised that workshops of this nature would help stimulate a dialogue among academia and policymakers and support further development of research related to monetary policy.

APAEA President Prof. Paresh Narayan, in his concluding remarks, highlighted the importance of research on monetary policy implications on the emerging market economies and emphasised the need for research collaboration initiatives of this calibre in enriching policy-oriented research.

The Conference comprised three sessions of research paper presentations by authors from the Central Bank of Sri Lanka and other researchers from several countries in Asia and the Pacific region. The sessions were chaired by ADBI Vice-Chair of Research Dr. John Beirne, CBSL Senior Deputy Governor T.M.J.Y.P. Fernando, and Deputy Governor K.M.A.N. Daulagala.