DFCC’s Economic Forum 2014 provides insights to growth
View(s):DFCC recently hosted the ‘DFCC Economic Forum’ for its corporate and high net-worth clients to provide insights into global and local economic developments and business prospects.
An eminent panel of speakers led by the Deputy Governor of the Central Bank, Ananda Silva spoke at the sessions. Other speakers included Sudipto Lahiry, Business Manager – Fixed Income and Akshay Chinchalkar, Business Manager for Charts from Bloomberg, who covered global markets and an in-depth charting session on currencies, gold and the equities, according to a DFCC media releaae.
Arjun Fernando, CEO, DFCC Bank said, “The sessions were designed to provide our clients with an accurate outlook on the overall economic climate in Sri Lanka and the world.”
Sudipto Lahiry, Business Manager – Fixed Income, Bloomberg, provided an overview of global markets and an analysis of debt, commodities and interest rates in global and local markets. Mr. Lahiry highlighted the impact of US QE tapering on emerging and frontier markets such as Sri Lanka. He further highlighted how this has stimulated a recovery of the global economy. Akshay Chinchalkar, Business Manager for Charts, Bloomberg, conducted a detailed charting session on major currencies, gold and equities.
The presentation by Amal Sandaratne, CEO, Frontier Research, drew considerable interest from the audience, as he outlined developments and causes for the current state of the Sri Lankan economy. He shed light on different economic scenarios and resultant exchange and interest rate behaviour.
Ananda Silva, Deputy Governor, Central Bank of Sri Lanka explained the policy measures taken to create a favourable business environment in the country. He further elaborated how measures were taken to reduce rupee exchange rate volatility in order to ensure stability in the market place to support trade businesses. He said that despite a significant drop in the gold backed pawning portfolio among banks and NBFIs, in the light of a major drop in world gold prices private sector credit growth is now picking up, according to the release.