SAARC financial sectors in close dialogue - CB Governor

Anjana SAMARASINGHE

COLOMBO: Leaders and people today are beginning to think of a SAARC grouping as a fairly serious grouping, said Central Bank Governor Ajith Nivard Cabraal at the inaugural Session of the SAARC Finance Conference on “Towards a Regional Payments Group” yesterday.

“The key players themselves are beginning to look at regional cooperation with a greater degree of certainty and conviction. We have seen new impetus in South Asia and there is an ample opportunity for us to move together. We are on a threshold of a new era,” he said.

“All the countries in the region face similar challenges. Poverty and terrorism are common enemies in the region,” he said.

The Central Bank Governor said one fourth of the population of the world lives in South Asia, but the per capita income of such people is very low.

“We have the opportunity in increasing the per capita income of the region. All the Central Banks and the Reserve banks in the SAARC region need to look at the opportunities in the region in order to deal with the poverty of the region. Financial sectors of SAARC are today in close dialogue,” Cabraal said.