Bhathiya Barukanda
The Central Bank of Sri Lanka hosted the 45th SAARCFINANCE Governors’ Meeting and Symposium
during 13-14 June 2024 in Colombo. The event was attended by the Governors, Finance Secretaries,
and other delegates from the Central Banks and Ministries of Finance in the SAARC region.
The SAARCFINANCE Governors’ Symposium, themed “Central Banking amid Multi-faceted Global
Economic Challenges,” was held on the first day of the event. Honourable Ranil Wickramasinghe, the
President of Sri Lanka and Minister of Finance, Economic Stabilisation, and National Policies, graced
the inaugural ceremony and delivered the keynote speech. In his address, the President emphasised
the importance of strengthening regional cooperation to tackle contemporary economic challenges
and promote growth. He also reiterated the need for monetary and fiscal stability and highlighted the
efforts being taken to strengthen the legal framework to ensure lasting stability in the country. The
Secretary General of SAARC, Ambassador Md. Golam Sarwar also attended the inauguration.
The day’s proceedings also comprised two insightful panel discussions. Governor Maha Prasad
Adhikari of the Nepal Rastra Bank, Governor Ali Hashim of the Maldives Monetary Authority, and
Secretary to the Treasury K. M. Mahinda Siriwardana were the panellists of the first panel discussion
titled “Challenges and Opportunities of Evolving Global Economic Dynamics to SAARC Countries:
Sharing Experience”. This was moderated by Dr. Ganeshan Wignaraja, Visiting Senior Fellow at ODI.
The second panel discussion was themed “Revisiting Monetary Policy Processes and Paradigms in
SAARC Countries: Policy Puzzles, Solutions, and Lessons Learnt”. Panellists were Governor Dasho
Penjore of the Royal Monetary Authority of Bhutan, Governor Dr. Nandalal Weerasinghe of the
Central Bank of Sri Lanka, and Deputy Governor Saleem Ullah of the State Bank of Pakistan, and the
discussion was moderated by Dr. (Ms.) Dushni Weerakoon, member of the Monetary Policy Board and
Executive Director of the Institute of Policy Studies of Sri Lanka.
The 45th SAARCFINANCE Governors’ Group Meeting was held on the second day of the event, focusing
on further enhancing cooperation and collaboration among member nations on various contemporary
economic and financial sector matters.
SAARCFINANCE, established in 1998, is a permanent body comprising Governors of central banks and
finance secretaries of SAARC member states. Its objective is to promote cooperation among central
banks and finance ministries in SAARC member states, fostering close collaboration on
macroeconomic policies and sharing experiences.
