Governor Lkhagvasuren attends HKMA-BIS High-Level Conference

The HKMA-BIS High-Level Conference took place on November 27-28 in Hong Kong, co-hosted by the Hong Kong Monetary Authority (HKMA) and the Bank for International Settlements (BIS). The event marked the 30th Anniversary of the HKMA and the 25th Anniversary of the BIS Representative Office for Asia and the Pacific, attracting over 300 participants. Among them were more than 20 current and former Central bank Governors, CEOs of global, regional, and local financial institutions, along with leading experts from Hong Kong and other Asian countries.

Distinguished speakers delved into critical challenges that Central banks and policymakers are facing. Topics ranged from persistent inflationary pressures and the "long-term high" interest rate environment to the future of the monetary system amidst financial innovation. Lessons from past financial crises and the structural changes shaping the economic landscape were also discussed. Financial leaders shared their insights on the future of Asian finance.

Notably, Governor Lkhagvasuren Byadran of the Bank of Mongolia engaged with key figures during the conference. He met with Mr. Agustín Carstens, the General Manager of the Bank for International Settlements, as well as the Governors and Deputy Governors of the Hong Kong Monetary Authority, Reserve Bank of Australia, Sveriges Riksbank, and Bank of England. Governor Lkhagvasuren extended invitations to these leaders to attend the International conference commemorating the Centenary of Mongolia's modern banking sector.

Furthermore, Governor Lkhagvasuren had productive discussions with representatives from Central banks of other countries and internationally operating banks. Exchanges centered around shared experiences and challenges related to economic situations and policies. Governor Lkhagvasuren highlighted Mongolia's commitment to a concessional and open policy, welcoming foreign banks interested in opening their branches in the domestic market.

Bank of Mongolia

December 1, 2023