BOOSTING ASIA'S BANKING SYSTEM STUDY LAUNCH

Top economists to attend roundtable discussion

BANGKOK (United Nations Information Services) -- The United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) is organizing a Roundtable discussion on the Asian Banking Sector in conjunction with the launch of a joint UNESCAP-ADB publication on "Rejuvenating Bank Finance for Development in Asia and the Pacific" on Wednesday, 23 October 2002 at the United Nations Conference Centre.

The Roundtable discussion session will provide a forum for an exchange of views on the financial sector in the region, thereby highlighting the current policy issues that the governments in the ESCAP region should pay attention to following the Asian crisis.

Eminent scholars and prominent bankers from countries of the region, experts from local research institutes and universities are expected to participate in the Roundtable discussion.

In the Asian and Pacific region the banks are still functioning as the primary source of domestic resource mobilization for development. The banking systems in the region, however, are generally weak with low capital base, excessive government intervention, ineffective supervision and insufficient risks management skills. Weak banking systems lead countries to misallocate resources and thus retard economic growth.

"In several countries in the region, long after the Asian financial crisis, banks are still suffering from an overhang of non-performing loans. Even though there has been considerable progress region-wide with regards to banking sector restructuring, there still remains many outstanding issues to be tackled, in order to rejuvenate banking activity as one of the main instruments in economic development," said a UNESCAP senior official.

You or your representatives are cordially invited to attend the launch of the UNESCAP-ADB joint publication on "Rejuvenating Bank Finance for Development in Asia and the Pacific" and the Roundtable discussion on the "Asian Banking Sector" on Wednesday, 23 October 2002 from 2:00 to 4:00 PM in Conference Room 4, First Floor of the United Nations Conference Centre, Rajadamenern Nok Avenue, Bangkok. Refreshments will be served.

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