Sunday, April 22, 2012

Sustainable economic growth key


Sustainable economic growth with improved access to finance will be key in reducing income inequality so that low income households that still constitute a majority, get the opportunity to escape poverty, the central bank governor said.
Addressing the closing session of the three-day conference which started on Friday, Nepal Rastra Bank governor Dr Yubaraj Khatiwada reiterated the objectives of the conference on the issues of inclusive growth, financial architecture and regulation of the financial system that has drawn its attention the most.
The international conference on 'Economics and Finance' organised by Nepal Rastra Bank, brought together more than 100 economists and financial sector experts from 16 countries and witnessed 21 sessions on a range of subjects related to macroeconomic management and the financial sector.
Presenting a summary of the conference, executive director of the central bank research department Dr Min Bahadur Shrestha said that the conference was successful in fostering constructive discussions on the various dimensions of the role of financial sector development on economic growth and poverty.
He added that during the sessions, there were three common thoughts, which were the reaffirmation of the importance of the financial sector for economic growth, level of economic growth and maturity of the financial system that determines the type of policy for steering financial development, and the importance of having appropriate levels of regulation.
Finance minister Barshaman Pun had inaugurated the conference on Friday.

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