Sustainable economic growth key

23rd-04-2012

ATHMANDU: 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 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 had 21 sessions on a range of subjects related to macroeconomic management and the financial sector.

Presenting a summary of the conference, executive director of central bank research department Dr Min Bahadur Shrestha said the conference was successful in fostering constructive discussions on various dimensions of the role of financial sector development on economic growth and poverty.

He added that in the sessions, there were three common thoughts, which were the reaffirmation of the importance of financial sector for economic growth, level of growth and maturity of financial system that determines policies for steering financial development, and importance of having appropriate levels of regulation. Finance minister Barshaman Pun had inaugurated the conference on Friday.Himal..