Ulaanbaatar
International Bankers Gather in Mongolia to Discuss New Financial and Monetary Challenges
Economy
Ulaanbaatar, July 17, 2024 /MONTSAME/. On the occasion of the 100th anniversary of the establishment of the banking system in Mongolia, the Bank of Mongolia held an international conference “Modern Central Bank: Challenges and Prospects” on July 9-10, 2024 in Ulaanbaatar.
Distinguished professors and high-level policymakers from all over the world gathered for this two-day conference to discuss future development trends of the Central Banks, challenges of the global economy, regional economy, and financial markets.
Specifically, on the first day the participants discussed monetary policy challenges, particularly in resource-rich countries, and financial sector regulation. The constantly changing macroeconomic environment creates new challenges for the monetary policy of countries, while increasing the importance of maintaining financial stability, noted the Conference speakers.
At the opening of the Conference, the message of the President of Mongolia Khurelsukh Ukhnaa was introduced by the President's Economic Policy Advisor Davaadalai Batsuuri. Deputy Chair of the State Great Khural of Mongolia Bulgantuya Khurelbaatar, and Governor of the Bank of Mongolia Lkhagavsuren Byadran delivered greeting speeches, while Managing Director of the International Monetary Fund Kristalina Georgieva greeted online. Mr. Tao Jang, the Asia Pacific representative of the Bank of International Settlements made the opening remarks.
This International Conference was jointly organized by the Bank of Mongolia, the Asian Development Bank, the Bank of International Settlements, the International Monetary Fund, and the World Bank. Moreover, the Reinventing Bretton Woods Committee and the Mongolian Bankers Association participated as strategic partners.
Distinguished guests at the International Conference included the Chief Executive of the Hong Kong Monetary Authority Eddie Yu, the Governor of the Central Bank of the Democratic Socialist Republic of Sri Lanka Nandalal Weerasinghe, Chief Economist and Deputy Governor of the Bank of Korea of the Republic of Korea Jae Won Lee, and the international financial organizations' regional directors.
