CBSL hosts SAARCFINANCE Governors’ Meeting in USA

The Central Bank of Sri Lanka, (CBSL) as the chair, hosted the 46th SAARCFINANCE Governors’ Group Meeting on  October 24, 2024 in Washington D.C. on the sidelines of the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group.

Attendees included governors, deputy governors, finance secretaries and other representatives from the central banks and finance ministries of SAARC member states.

The 46th SAARCFINANCE Governors’ Group Meeting provided a valuable platform for South Asian central bank governors and finance secretaries to discuss regional economic challenges, strengthen financial cooperation, and coordinate policy initiatives. The discussions were held on collaborative research and capacity building initiatives as well as on regional financial assistance at times of economic distress.

The SAARCFINANCE Roadmap for regional cooperation was revisited to include three key areas, cooperation in banking regulation and supervision, financing for climate and sustainable development, and assessing the opportunities and challenges of emerging digital technologies in central banking operations.

Established in 1998, SAARCFINANCE is a permanent body comprising central bank governors and finance secretaries of SAARC member countries. Its objective is to promote cooperation among central banks and finance ministries in SAARC member states, encouraging collaboration on macroeconomic policies and the exchange of knowledge and experiences.

Source:Daily News