Sri Lanka to head the SEACEN Board of Governors

Sri Lanka has been elected to head the South East Asian Central Bank Board of Governors at the conclusion of the 54th SEACEN Governors Conference/High Level Seminar and the 38th Meeting of the SEACEN Board of Governors in Colombo, recently.

Dr. Indrajit Coomaraswamy, Governor of the Central Bank of Sri Lanka, was elected as the new Chair of the SEACEN Board of Governors on this occasion. The Central Bank of Sri Lanka hosted the Conference/High Level Seminar and the 38th Meeting in Colombo late last month.

Delivering the keynote address at the inauguration of the conference, the Deputy Managing Director of the International Monetary Fund (IMF),. Mitsuhiro Furusawa, noted that the SEACEN Centre plays a leading role in promoting greater understanding in financial, monetary and banking matters in the Asia-Pacific region.

He provided an overview of IMF’s view of current economic policies and prospects for Asia, focusing on the need to strengthen macroeconomic building blocks.

Overall, Asian economies are well positioned to weather future monetary and financial challenges, although there is a need for continuous vigilance and encouraging structural reforms, prudent fiscal policies, safeguarding the credibility of central banks and ensuring strong financial institutions through a mixture of both micro- and macro prudential policies, it was stated at the meeting. (Bandula)