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Conference Papers
for the National Workshop on
"Strengthening the Response to the Global Financial Crisis in Asia-Pacific: The Role of Monetary, Fiscal and External Debt Policies"
9-11 December 2009
Thimphu, Bhutan
(last updated 23 December 2009)
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Day 1: 9 December 2009
Inaugural Session:
Welcome remarks by Ms. Claire Van Der Vaeren, UN Resident Coordinator and UNDP Resident Representative in Bhutan
Opening statement by Dr. Nagesh Kumar, Director, Macroeconomic Policy and Development Division, ESCAP
Special address by Dr. Yuba Raj Khatiwada, Vice Chairman, National Planning Commission, Nepal
Keynote address by Mr. Daw Tenzin, Managing Director, Royal Monetary Authority of Bhutan
Chief Guest address by H.E. Lyonpo Wangdi Norbu, Minister, Ministry of Finance, Kingdom of Bhutan
Session 1:
OVERVIEW OF THE IMPACT OF GLOBAL FINANCIAL AND ECONOMIC CRISIS
Global Overview of causes and impact of the global financial and economic crisis on the global economy, Dr. Jonathan C. Dunn, Resident Representative in Bangladesh, IMF
How did the global economic and financial crisis affect the Asia-Pacific regional economies , Dr. Nagesh Kumar , Director, Macroeconomic Policy and Development Division, ESCAP
The impact of the global financial and economic crisis: challenges for Bhutan, Mr. Phuspalal Chhetri, Division Chief, Research and Statistics Division, Royal Monetary Authority of bhutan
Session 2: EFFECTIVE MONETARY POLICY UNDER THE GLOBAL FINANCIAL AND ECONOMIC CRISIS
Monetary Policy Issues of Interest to Bhutan , Mr. Phuspalal Chhetri, Division Chief, Research and Statistics Division, Royal Monetary Authority of Bhutan
Monetary policy challenges for a country with excess liquidity under the pegging exchange rate system , Dr. Ram Sharan Kharel , Nepal Rastra Bank
Development of government securities market and its impact on monetary policy implementation , Dr. Muhammad M. Ali , Director, State Bank of Pakistan , Pakistan
Financial liberalization in Bangladesh and its impact on monetary policy implementation , Mr. Habibullah Bahar , Economic Advisor, Bangladesh Bank, Bangladesh
Effectiveness of Interest rate policy in India and its implication to Bhutan , Dr. Brajamohan Misra , Advisor, Reserve Bank of India
Challenges for bank supervision in the post-global economic crisis era , Dr. Rungporn Roengpitya , Senior Examiner, Bank of Thailand , Thailand
Day 2: 10 December 2009
Session 3: CURRENT FISCAL POLICY CHALLENGES
Fiscal Policy Issues of Interest in Bhutan , Mr. Choiten Wangchuk, Director, Department of National Budget, Ministry of Finance, Kingdom of Bhutan
Strategies and cautions for introducing fiscal incentives to stimulate the economy during the global crisis , Professor Mahendra Dev , Chairman, Commission for Agriculture Costs and Prices, India
Sustainable fiscal deficit and economic development , Dr.Yuba Raj Khatiwada , Vice Chairman, National Planning Commission, Nepal
Exploring different possibilities to enhance revenue base , Dr . Pisit Puapan , Director, Economic Stability Analysis Division, Ministry of Finance, Thailand
The Global Financial Crisis and Macro-economic Challenges: A Contemporary History , Dr. Alok Sheel , Joint Secretary, Ministry of Finance , India
Session 4: EXTERNAL DEBT MANAGEMENT FOR A SUSTAINABLE ECONOMIC DEVELOPMENT
External Debt Policy Issues of Interest to Bhutan , Mr. Tshewang Norbu, Chief Programme Officer, Debt Management Division, Department of Public Accounts, Ministry of Finance, Kingdom of Bhutan
Effective external debt management for a sustainable economic development , Professor Hemanta K. Pradhan , XLRI, India
Ways to monitor key external debt indicators, and to maintain outstanding debt at internationally accepted thresholds , Mr. Mohammad Mejbahuddin , Additional Secretary, Economic Relations Division, Bangladesh
The evaluation on the role of external debt as a source for economic development and its implication to Bhutan , Mr. Masroor A. Qureshi , Director General, Ministry of Finance, Pakistan
Strategy for prudent debt management practices , Dr. Rungporn Roengpitya , Senior Examiner, Bank of Thailand, Thailand
Day 3: 11 December 2009
Session 5: ECONOMIC POLICY COORDINATION AS A DEVELOPMENT STRATEGY
Introduction: Economic Policy Coordination Issues of Interest to Bhutan , Mr. Pema Wangyel, Senior Planning Officer, Planning and Policy Division, Ministry of Finance, Kingdom of Bhutan
Effective national and regional coordination of macroeconomic policies, Dr. Aynul Hasan and Dr. Alberto Isgut , DPS, MPDD, UNESCAP
Coordination of monetary, fiscal and external debt policies at the national level , Dr. Bhanumurthy, UNDP Consultant