Lessons on managing BoP
Kathmandu, September 3:
The third edition of SEACEN Centre-International Monetary Fund (IMF) Course on Balance of Payment (BoP) management by central banks in South East Asian states started here in the valley today.
Krishna Bahadur Manandhar, acting governor of Nepal Rastra Bank (NRB), while inaugurating the training programme, stressed on the need to maintain a credible and integrated balance of payment (BoP) situation.
“Balance of Payment (BoP) influences international and global economy that results from imbalances between internal and external economic development,” he said, adding that the gross domestic product (GDP) of Asian nations has increased by 8.3 per cent in 2007 due
to external environment as well as strong financial management.
Dr A G Karunasena, executive director of the SEACEN Centre, speaking on the occasion, said that the BoP should be analysed in the context of globalisation and external trade and capital flow. “Such training would help in the analysis of practice, principles and concepts relating to balance of payment,” he added.
Around 26 participants from Nepal, Bhutan, Cambodia, India, Indonesia, Iran, Malaysia, the Philippines, Sri Lanka, China and Thailand are taking part in the training that will last till September 14.
The SEACEN Centre, established by central banks of eight countries in 1982, will analyse and review financial, monetary and economic development indices of the member countries. It will also facilitates formulation of policy and programme related concepts. The centre has 16 central banks now as its members.