For the first time, the Bank of Papua New Guinea is hosting the South East Asian Central (SEACEN) Bank Governors Conference and High Level Seminar of the Board of Governors.
Since its SEACEN membership in 2005, the Bank of PNG remains one of only two Central Bank members from the South Pacific. The Reserve Bank of Fiji is the only other member from the region in this influential body.
Historically, SEACEN was formed in 1966 as a forum for Central Bank Governors to exchange information and ideas on matters affecting the economies and financial systems of member countries.
Bank of PNG Governor Loi Bakani said he is honoured to host this event and hopes that discussions will be fruitful in assisting members face the unique challenges in the region. Specific focus will be on the challenge to achieve financial stability while assisting governments attain their economic policies.
This has meant that central banks need to adapt to ensure sustainable growth in their respective economies.
The two-day event will end this evening.