The 60th SEACEN Governors’ Conference and 44th SEACEN Governors’ Meeting took place in Seoul, South Korea, on 6-7 December 2024.
Nepal Rastra Bank Governor Maha Prasad Adhikari represented Nepal at this prestigious gathering. Central Asian bank leaders joined forces to address global challenges and strengthen financial systems.
The conference revolved around critical topics. The primary theme, “Prospects for Global Economy and Financial Markets in 2025,” set the tone for discussions.
Another major issue discussed was “Policy Implications of Geo-economic Fragmentation for Asian Economies.”
Leaders highlighted the growing threat of economic fragmentation. Trade tensions and geopolitical instability dominated the conversation. Climate-related risks also emerged as a crucial issue requiring immediate attention.
Participants explored strategies to navigate these challenges during the Governors’ Panel Discussion. They emphasized the importance of cooperation to safeguard economic stability.
Governor Adhikari presented Nepal’s economic priorities during the discussion. He highlighted Nepal’s efforts to modernize its payment systems and promote financial inclusion.
He also spoke about Nepal’s commitment to green finance, aligning with the global sustainability push.
Transitioning toward resilient economies became a key focus during the discussions. Delegates agreed that addressing climate change should complement financial policies.
On the second day, the 44th SEACEN Board of Governors’ Meeting focused on operational goals. The session, chaired by Bank of Korea Governor Chang Yong Rhee, reviewed SEACEN’s current activities.
Leaders assessed progress on research, training programs, and future initiatives.
The Board approved plans for 2024, including budgets for proposed activities and strategies to improve knowledge-sharing among member countries. The meeting also confirmed Indonesia as the next SEACEN chair.
Delegates agreed to hold the next SEACEN Governors’ Meeting in Indonesia. The leadership transition reflects SEACEN’s dynamic approach to achieving shared goals.
Nepal’s participation stood out during the meeting. Governor Adhikari reaffirmed Nepal’s dedication to SEACEN’s shared mission. He emphasized the importance of aligning national policies with regional priorities to strengthen economic resilience.
Discussions during the meeting also highlighted urgent issues requiring action. Leaders focused on mitigating trade disruptions and ensuring financial stability across the region.
Regional Collaboration and Nepal’s Growing Role
SEACEN’s initiatives have always prioritized regional cooperation. The platform supports member nations in navigating global and local challenges and provides collaboration, research, and capacity-building opportunities.
This year’s conference reinforced the importance of collective action. Leaders agreed that economic uncertainties require joint solutions. They emphasized the need for policies that balance growth with sustainability.
Nepal’s contributions during the event showcased its increasing regional influence. Governor Adhikari highlighted Nepal’s focus on innovation and modernization, aligning with SEACEN’s inclusive and sustainable development goals.
Participants also explored opportunities for enhancing trade and investment. They acknowledged the importance of fostering cross-border economic ties.
The conference provided valuable insights for member nations. Leaders committed to working together to tackle economic risks. They agreed on strategies that prioritize sustainability and shared progress.
Nepal continues to advocate for regional partnerships. Its efforts reflect a commitment to addressing global challenges through cooperation. Governor Adhikari’s active participation further solidified Nepal’s role as a regional leader.
SEACEN’s mission remains critical in today’s economic landscape. Its platform empowers central banks to find innovative solutions to shared challenges. Member nations rely on SEACEN to foster progress and stability.
The outcomes of this year’s conference will guide policies in 2024 and beyond. Leaders agreed to focus on resilience and sustainability, ensuring that SEACEN continues to play a pivotal role in shaping the region’s financial future.
After successfully representing the country, Governor Adhikari returned to Nepal, reflecting Nepal’s readiness to address emerging challenges.
SEACEN’s annual event remains a vital forum for regional dialogue. It brings together leaders to share knowledge and find solutions. This collaboration drives progress and ensures economic stability across Asia.
Nepal’s participation this year highlighted its commitment to these shared goals. The country’s dedication to innovation and inclusivity stands out in its efforts. It continues to align its strategies with SEACEN’s vision for a resilient future.