23rd Executives' Meeting of East Asia-Pacific Central Banks (EMEAP) Governors' Meeting Held in the Philippines

The 23rd Executives' Meeting of East Asia-Pacific Central Banks (EMEAP) Governors’ Meeting was attended by eleven EMEAP central banks and monetary authorities last August 4, 2018 in the Philippines. It was chaired by Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla, Jr..

The annual EMEAP Governors' Meeting provides a platform for the exchange of ideas on economic and financial developments in the region. The Governors discussed this year the increased interdependence in the global economy and the impact on the conduct of monetary policy. The Governors also deliberated on the lessons from the Global Financial Crisis. Throughout the discussions of these issues, the Governors reaffirmed the importance of EMEAP as a platform for effective sharing of experience and dialogue on policies.

During the meeting, the Governors were presented with the report of the 54th EMEAP Deputies’ Meeting held last May 24, 2018 in Singapore.  They recognized the progress made on a range of EMEAP projects and activities focusing on banking supervision, financial markets, payments and settlements systems and information technology.

The Governors also discussed updates by the Monetary and Financial Stability Committee (MFSC) on its conduct of surveillance and research activities.

The 24th EMEAP Governors’ Meeting will be held next year.