48TH CONFERENCE SEACEN RUNS HERE

Ulaanbaatar, Mongolia /MONTSAME/ The 48th Conference of the Governors' of the South East Asian Central Banks (SEACEN), High Level Seminar and 32nd Meeting of the SEACEN Board of Governors ran in Ulaanbaatar November 22-24. The principal objective of this seminar was to provide a forum for exchanging views and sharing experiences among the SEACEN countries about the Regional and International Financial Issues, Financial Contagion and Volatility Capital Flow, Regional and Global Liquidity Arrangement: Responses to External Shocks and Rethink the New Financial Architecture. The Prime Minister N.Altankhuyag gave the key speech at the Conference, saying Mongolia's economy growth reached 17.3 per cent by the previous year. "However, the economic development of Mongolia is followed by its mining growth, the money flow into Mongolia also has increased recent years, hence the economy is expected to show in two digits this year. Nevertheless, the crisis at the international financing system is expected to continue, thus Mongolia's financial institutions are making some necessary arrangements to strengthen a security of its financial system," he said. Governor of the Central Bank of Sri Lanka Ajith Nivard Cabraal chaired the high-level seminar of the Conference on the subject "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. Central Bank Governors, Deputy Governors and other Senior officials of the SEACEN Countries, namely Brunei Darussalam, Cambodia, China, Fiji, Indonesia , Korea, Lao PDR, Malaysia, Mongolia, Myanmar, Papua New Guinea, Nepal, Philippines, Singapore, Sri Lanka, Chinese Taipei, Thailand and Vietnam participated at the confab and seminar. B.Khuder