Manila-based Asian Development Bank (ADB) has urged member governments to stay focused on building resilient financial systems.
ADB president Haruhiko Kuroda, in a statement released Wednesday, said much progress has been made in enhancing financial stability at national, regional and global levels. He added that much still needs to be done.
Policymakers and regulators from across the region tackled some of the major issues that make some countries open to future threats. They gathered at a high-level seminar during the 44th Annual Meeting of the ADB held in Hanoi, Vietnam.
Among the weaknesses identified were insufficient supervision, underdeveloped regional financial markets, and high susceptibility to volatile capital flows. The ADB said these weaknesses were exposed during the recent global financial crisis.
Mario Lamberte, director of research at ADB Institute, said Asia’s financial systems held up relatively well to the strains of that crisis. “However, policymakers need to do much more to develop and deepen the region’s financial markets," Lamberte stressed.
Source: http://www9.gmanews.tv
ADB president Haruhiko Kuroda, in a statement released Wednesday, said much progress has been made in enhancing financial stability at national, regional and global levels. He added that much still needs to be done.
Policymakers and regulators from across the region tackled some of the major issues that make some countries open to future threats. They gathered at a high-level seminar during the 44th Annual Meeting of the ADB held in Hanoi, Vietnam.
Among the weaknesses identified were insufficient supervision, underdeveloped regional financial markets, and high susceptibility to volatile capital flows. The ADB said these weaknesses were exposed during the recent global financial crisis.
Mario Lamberte, director of research at ADB Institute, said Asia’s financial systems held up relatively well to the strains of that crisis. “However, policymakers need to do much more to develop and deepen the region’s financial markets," Lamberte stressed.
Source: http://www9.gmanews.tv
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