Economic Reporter :
Bangladesh Bank (BB) Governor Dr Atiur Rahman on Thursday reiterated his call for stronger cooperation among the central banks in South Asian countries to help accelerate economic growth.
The central bank governor said this while addressing his keynote speech on ‘Role of Central Banks in Promoting South Asian Economic Cooperation’ at the 2nd International Conference on South Asian Economic Development, organized by South Asian University, New Delhi.
Dr Rahman said there are many areas where deeper cooperation among the regional central banks would help achieve inclusive growth and other core financial targets. The governor was speaking on the role of central banks in promoting South Asian economic cooperation at the second International Conference
Dr. C Rangarajan, Former Governor of Reserve Bank of India, Dr. Santosh C. Panda, Dean and Professor, Faculty of Economics, South Asian University and Dr. Kavita A Sharma, President of South Asian University were present in the conference.
In his lecture, Atiur Rahman discussed how regional cooperation efforts comprise a significant dimension of development initiatives in South Asia. He said that country level efforts bolstered by collective cooperation initiatives have paid the region well by transforming South Asia into one of the few robust hubs of global growth but sustenance of this growth and development momentum faces quite a few challenges now on diverse fronts. He added, South Asia would need to boost domestic demand driven growth to make up for the weaker gains in export driven growth. Stimulating domestic demand driven growth entails pursuing a broad menu of well coordinated near and medium term policy support agenda, including financing of technical and marketing know how for MSME output initiatives on the supply side, and incremental employment and income generation on the demand side.
Governor Rahman emphasized Bangladesh Bank initiatives, which are helping to maintain a sustained thrust for inclusive financing to support MSMEs. He also shed light on the role of the central banks of South Asia. According to him, possible areas of further deepening of cooperation between South Asian central banks include analytical research on monetary and macroeconomic issues impacting the region, region wide systematic evaluation of various central bank initiatives in promotion of inclusive and green financing, financial market deepening and development etc. He also said that as advisors to government on macroeconomic and development strategies and policies, South Asian central banks can usefully influence decision processes towards hastening ever greater openness and integration in interregional trade and investment, as also in freer movement of people in the region across national borders.
Bangladesh Bank (BB) Governor Dr Atiur Rahman on Thursday reiterated his call for stronger cooperation among the central banks in South Asian countries to help accelerate economic growth.
The central bank governor said this while addressing his keynote speech on ‘Role of Central Banks in Promoting South Asian Economic Cooperation’ at the 2nd International Conference on South Asian Economic Development, organized by South Asian University, New Delhi.
Dr Rahman said there are many areas where deeper cooperation among the regional central banks would help achieve inclusive growth and other core financial targets. The governor was speaking on the role of central banks in promoting South Asian economic cooperation at the second International Conference
Dr. C Rangarajan, Former Governor of Reserve Bank of India, Dr. Santosh C. Panda, Dean and Professor, Faculty of Economics, South Asian University and Dr. Kavita A Sharma, President of South Asian University were present in the conference.
In his lecture, Atiur Rahman discussed how regional cooperation efforts comprise a significant dimension of development initiatives in South Asia. He said that country level efforts bolstered by collective cooperation initiatives have paid the region well by transforming South Asia into one of the few robust hubs of global growth but sustenance of this growth and development momentum faces quite a few challenges now on diverse fronts. He added, South Asia would need to boost domestic demand driven growth to make up for the weaker gains in export driven growth. Stimulating domestic demand driven growth entails pursuing a broad menu of well coordinated near and medium term policy support agenda, including financing of technical and marketing know how for MSME output initiatives on the supply side, and incremental employment and income generation on the demand side.
Governor Rahman emphasized Bangladesh Bank initiatives, which are helping to maintain a sustained thrust for inclusive financing to support MSMEs. He also shed light on the role of the central banks of South Asia. According to him, possible areas of further deepening of cooperation between South Asian central banks include analytical research on monetary and macroeconomic issues impacting the region, region wide systematic evaluation of various central bank initiatives in promotion of inclusive and green financing, financial market deepening and development etc. He also said that as advisors to government on macroeconomic and development strategies and policies, South Asian central banks can usefully influence decision processes towards hastening ever greater openness and integration in interregional trade and investment, as also in freer movement of people in the region across national borders.
