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Ulaanbaatar hosts 32nd Meeting of SEACEN Governors and 48th SEACEN BOG High Level Seminar

By B.KHASH-ERDENE

The 32nd and 48th conferences were held through November 22-24 in Ulaanbaatar.
Delegates from over 17 countries led by Jaime Caruane, General Manger of the Bank for International settlements (BIS) and Gerard Almekinders, representative of the International Monetary Fund (IMF) have attended the conference to provide a forum for sharing opinions and experiences on economic and financial issues of common interest and concern, and to be updated on the world economic outlook and emerging international financial issues.
The keynote speaker at the Conference was Altankhuyag, Prime Minister of Mongolia.
Ajith Nivard Cabraal, Governor of the Central Bank of Sri Lanka chaired the high-level seminar of the Conference on the subject of “Regional and Global Liquidity Arrangement: Responses to External Shocks” at which Dr Choongsoo Kim, Governor, Bank of Korea and Dr. Yi Gang, Deputy Governor, People’s Bank of China participated as the discussants.
Mongolian Prime Minister Norov Altanhuyag told the conference Thursday the movement of financial capital was very important in the region.
The Asian economy was developing as a major driving force of global growth and the Mongolian economy grew by 17.3 percent in 2011, he said.
“Funds directed to Mongolia increased thanks to the country’s fast mining development and accelerated economic growth,” Altanhuyag said. “Mongolia was strengthening its banking and financial system as the international financial crisis might continue for some time.”
Since its establishment, the members of The SEACEN centre have grown. There are currently 18 member central banks and monetary authorities. In addition to the original eight members, it is joined by; The Bank of Korea on 25 January 1990, Central Bank, Chinese Taipei on 25 January 1992, The Bank of Mongolia on 20 May 1999, Autoriti Monetari Brunei Darussalam on 1 April 2003, the Reserve Bank of Fiji on 1 April 2004, the Bank of Papua New Guinea on 2 June 2005, the National Bank of Cambodia on 1 April 2006; the State Bank of Vietnam on 1 September 2006 and the People’s Bank of China on 25 January 2011; and, the Bank of The Lao, PDR on 14 February 2012.
In addition to the full membership, the SEACEN Centre has 1 “observer” central bank and 16 “invitees”. The “observer” central bank are granted the privilege of attending the annual SEACEN Governors’ Conference.

 

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Posted by on Nov 26 2012. Filed under Business & Economics. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

1 Comment for “Ulaanbaatar hosts 32nd Meeting of SEACEN Governors and 48th SEACEN BOG High Level Seminar”

  1. all the so small scale banks but china

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