Colombo, Sri Lanka (BBN) – The Central Bank of Sri Lanka hosted the 28th SAARCFINANCE Group Meeting and SAARCFINANCE Governors’ Symposium at the Central Bank of Sri Lanka on 24 July 2014.

The 28th SAARCFINANCE Group Meeting was attended by Governors and Finance Secretaries and other delegates from the Central Banks and Ministries of Finance in the SAARC region, the organizers said.

Following the SAARCFINANCE Group Meeting, the SAARCFINANCE Governors’ symposium was held, where discussions took place on the theme “Unwinding of Unconventional Monetary Policies and its Impact on Emerging Market Economies”.

The Governor of Central Bank of Sri Lanka, Ajith Nivard Cabraal delivered the opening address while the Governor of Reserve Bank of India, Dr. Raghuram Rajan, made the key note address. Each SAARC country also made country presentations, highlighting the direct and indirect impact of unwinding of unconventional monetary policies on Monetary Policy management in their respective countries.

SAARCFINANCE is a permanent body at the level of Governors of Central Banks and Secretaries of Finance of SAARC member states as approved at the twenty-second session of Council of Ministers in Kathmandu, June 2002.

The objective of SAARCFINANCE is to promote cooperation among Central Banks and Finance Ministries in SAARC member states to forge closer cooperation on macro-economic policies of SAARC Member States and to share experiences.

SAARCFINANCE submits a report to the SAARC Council of Ministers through SAARC Finance Ministers, while SAARCFINANCE meetings are held at least twice a year.

BBN/SSR/AD-25July14-12:08 pm (BST)