IMF Conference

9:00 – 09:30 AM JST ^*

Opening Session

Video message from Japan Finance Minister

Katsunobu Kato

Katsunobu Kato is the Minister of Finance and Minister of State for Financial Services in Japan. He previously served as Minister of Health, Labour and Welfare and Chief Cabinet Secretary. He was first elected to the House of Representatives in 2003 and has since been re-elected eight times to represent his constituency in Okayama. He received a BA in Economics from the University of Tokyo in 1979.

Live welcome remarks by IMF Managing Director

Kristalina Georgieva

Kristalina Georgieva is the Managing Director of the International Monetary Fund (IMF). She is the first person from an emerging market economy to lead the IMF since its inception in 1944. Before joining the Fund, Ms. Georgieva was Chief Executive Officer of the World Bank and also served as Interim President for a time. Previously, she served at the European Commission as Vice President for Budget and Human Resources – and as Commissioner for International Cooperation, Humanitarian Aid and Crisis Response. She was named “European of the Year” and “Commissioner of the Year” by European Voice for her leadership in the European Union’s humanitarian response to crises.

Welcome remarks by Bank of Japan Governor

Kazuo Ueda 

Kazuo Ueda was appointed Governor of the Bank of Japan in April 2023. He started his career as Assistant Professor at the University of British Columbia in 1980. In 1993 he became Professor at the University of Tokyo, specializing in macroeconomics and financial theory. From 1998 to 2005, he was a member of the Bank of Japan's Policy Board and led discussions on the introduction of forward guidance under the zero interest rate policy. In 2005, he became Professor at the Graduate School of Economics at the University of Tokyo. In 2017, he became Professor at Kyoritsu Women's University. Dr. Ueda holds a BSc in Mathematics from the University of Tokyo and a PhD in Economics from the Massachusetts Institute of Technology.

9:30 – 9:40 AM JST

Opening ceremony/group photo with participants

9:45 – 10:50 AM JST

Session 1- The Rapidly Evolving International Monetary System (IMS) amid Mega Trends

This session will discuss trends in global trade and capital flows and how these are being affected by mega trends related to digitalization, AI, and climate change. It will highlight Asia’s experiences and discuss how the region can, with Fund support, face the challenges ahead and continue to thrive.

Moderator:

Tom Scholar (Chair of Nomura International PLC; former Permanent Secretary to the UK Treasury)

Tom Scholar is the chair of Nomura International plc. He was previously Permanent Secretary to the UK Treasury (2016-2022). In his earlier civil service career he was the UK’s Executive Director at the International Monetary Fund and the World Bank (2001-07), Chief of Staff to the Prime Minister (2007-2008), second permanent secretary to the Treasury leading the department’s work on financial stability and international issues (2008-2013), and senior adviser to the Prime Minister on European and global economic issues, and the UK's G7, G20 and EU Sherpa (2013-16).

Panelists:

Chia Der Jiun (Managing Director, Monetary Authority of Singapore)

Chia Der Jiun was appointed Managing Director of the Monetary Authority of Singapore (MAS) on 1 January 2024. He was previously Permanent Secretary (Development) at the Ministry of Manpower (MOM). Prior to his appointment at MOM in 2020, Der Jiun had spent 18 years at MAS in a range of functions covering monetary policy implementation, reserve management, macroeconomic surveillance, and banking supervision and regulation. At the MAS, he was last Deputy Managing Director (Corporate Development) with responsibilities for risk, finance, payment system and currency operations, HR and organisation transformation. Der Jiun also served as Executive Director for Southeast Asia at the International Monetary Fund from 2011 to 2013. He holds a BA(Hons) in Politics and Economics from Oxford University and an MBA from INSEAD.

V. Anantha Nageswaran (Chief Economic Adviser, Ministry of Finance of India)

V. Anantha Nageswaran is Chief Economic Adviser at the Ministry of Finance in India. Before being appointed for the current role in January 2022, he was a writer, author, teacher and consultant. He has written a weekly Mint column for fifteen years on Tuesdays since 2007. He has co-authored four books:(i) The Rise of Finance – Causes, Consequences and Cures; (ii) Derivatives; (iii) Can India Grow?; and (iv) The Economics of Derivatives.

Mari Pangestu (Vice Chair, National Economic Council, Indonesia and Professor of International Economics, University of Indonesia)

Mari Pangestu is Vice Chair of the National Economic Council in Indonesia and Professor of International Economics at the University of Indonesia. She has vast experience spanning over 30 years in academia, second track processes, international organizations and government working in areas related to international trade, investment and development in multilateral, regional and national setting. She is highly regarded as an international expert on a range of global issues and sustainability, and has served on a number of boards and task forces. Ms. Pangetsu was the World Bank Managing Director of Development Policy and Partnerships, from March 2020 to 2023. Prior to joining the Bank, she served as Indonesia’s Minister of Trade from 2004 to 2011 and as Minister of Tourism and Creative Economy from 2011 to 2014.

Danny Quah (Li Ka Shing Professor in Economics and Dean, Lee Kuan Yew School of Public Policy in Singapore)

Danny Quah is Li Ka Shing Professor in Economics and Dean at the Lee Kuan Yew School of Public Policy, NUS. He works on world order, economic growth and development, and inequality and income mobility. In his research on world order, Quah analyses the supply and demand of international systems, contrasting the goals of the Great Powers and the needs of the global community. Quah seeks to help shape global economic and geopolitical discourse through academic research, public commentary, and as a member of World Bank President's Economic Advisory Panel and other public commissions, as well as in advisory roles at World Economic Forum, UNDP, government agencies and ministries, and elsewhere.

Sayuri Shirai (Professor of Economists, Keio University; Advisor for Sustainable Policies at Asian Development Bank Institute)

Sayuri Shirai is a Professor at Keio University and an Advisor on Sustainable Policies at the Asian Development Bank Institute (ADBI). In this role, she oversees the ADBI-ADB Asian Climate Finance Dialogue project, an initiative aimed at enhancing information exchange and understanding of climate-related disclosures and financial policies among financial supervisors in Asia. In 2024, she also served as a senior consultant for the ADB. She also serves as an Advisor to Nissin Oillio Group. Previously, Shirai held a senior advisory role at EOS Federated Hermes in London in 2020-21, where she provided ESG stewardship services to listed companies in Japan. From 2011 to 2016, she was a Member of the Policy Board of the Bank of Japan.

11:10 AM – 12:15 PM JST

Session 2 - The IMF’s Surveillance Remit Going Forward 

This session will discuss how the IMF needs to continue adapting to provide timely and relevant analysis and policy advice to its member economies with the evolving needs of the IMS.

Moderator:

Krishna Srinivasan (Director, Asia and Pacific Department, IMF)

Krishna Srinivasan is the Director of the IMF’s Asia and Pacific Department (APD). In this capacity, he oversees the institution’s work on all countries in the Asia-Pacific region. He was previously a Deputy Director in the Western Hemisphere Department (WHD), where he supervised the institution’s work on several countries in the Americas. Prior to joining WHD, Krishna was in the European Department, where he served as the IMF’s mission chief for the United Kingdom and Israel, and before that in the Research Department, where he led the IMF’s work on the G-20 in the context of the global financial crisis. He has edited several books and published papers, both at the IMF and in leading academic journals.

Panelists:

Chatib Basri (Co-Founder CReco Research Institute, former Minister of Finance of Indonesia and former Chairman of the Indonesian Investment Coordinating Board; Member of the National Economic Council, Indonesia)

Chatib Basri is a former Minister of Finance of Indonesia and former Chairman of the Indonesian Investment Coordinating Board. Dr. Basri serves on the National Economic Council, Indonesia’s leading advisory body, composed of academics, business leader, investment banker and former senior government officials. The council’s primary role is to provide the President with policy recommendations on economic issue. Dr. Basri currently also serves as the Co-Chair of the Pandemic Fund (Financial Intermediary Fund for Pandemic Prevention, Preparedness, and Response) hosted by the World Bank with technical support from WHO. Dr. Basri is the Chairman of the PT Bank Mandiri Tbk. and also Chairman of the PT XL-Axiata Tbk.

Ma Jun (Former chief economist at PBOC, Founder and President of Institute of Finance and Sustainability in Beijing)

Ma Jun is the Founder and President of Institute of Finance and Sustainability in Beijing. He is also the Chairman of Green Finance Committee of China Society for Finance and Banking, Chairman of Capacity-building Alliance of Sustainable Investment(CASI), Co-Chair of the Steering Committee of the Green Investment Principles for the Belt & Road, and Chairman of Hong Kong Green Finance Association. He had worked as the Co-Chair of G20 Sustainable Finance Working Group. Between 2017 and 2020, Dr. Ma was the Director of Center for Finance and Development at Tsinghua University. Between 2014 and 2017, he served as the Chief Economist at the People’s Bank of China (PBOC)’s Research Bureau and a member of the central bank’s Macro-Prudential Committee.

Duvvuri Subbarao (Visiting faculty, Yale University; former Reserve Bank of India Governor)

Duvvuri Subbarao served as Governor of the Reserve Bank of India (RBI) for five years (2008-2013). Prior to that, he was Finance Secretary to the Government of India (2007-2008) and Secretary to the Prime Minister’s Economic Advisory Council (2005-2007). As a career civil servant in India for over three decades, Subbarao worked in various positions in the state government of Andhra Pradesh and in the central government in New Delhi. He was a Lead Economist in the World Bank (1999 - 2004) where his responsibilities involved advising developing countries on public finance management. He is currently Visiting Faculty at Yale School of Management.

Sethaput Suthiwartnarueput (Governor, Bank of Thailand)

Sethaput Suthiwartnarueput has served as the 21st Governor of the Bank of Thailand since 2020. He has been a key advocate for using an integrated policy framework, employing a combination of policy tools to ensure monetary and financial stability, and for laying a foundation for a more robust digital finance landscape, with open infrastructure, competition, and data. He previously held various positions in the banking and financial sector, the Stock Exchange of Thailand, the Ministry of Finance, McKinsey and Co., and the World Bank. He holds a B.A. from Swarthmore College and a Ph.D. in Economics from Yale University.

1:30 – 1:45 PM JST

Keynote Speech

Haruhiko Kuroda (Former BOJ Governor, Professor and Senior Fellow, the National Graduate Institute for Policy Studies (GRIPS))

Haruhiko Kuroda is currently a professor and senior fellow of the National Graduate Institute for Policy Studies (GRIPS). He has also assumed GSM distinguished professor at Kyoto University and Senior Research Fellow of Japan Center for Economic Research. Mr. Kuroda was Governor of the Bank of Japan from March 2013 to April 2023. Prior to his position at the BOJ, Mr. Kuroda served as President of the Asian Development Bank from 2005 to 2013. He was also Special Adviser to the Cabinet of Prime Minister Koizumi, while he was professor at Hitotsubashi University in Tokyo from 2003 to 2005.

1:45 – 2:50 PM JST

Session 3 - A Reinforced Global Financial Safety Net (GFSN) and the IMF’s Role at its Core

This session will take a holistic view at the GFSN and discuss how emerging trends could affect its layers and functioning, and the policy priorities needed to ensure that the GFSN remains fit for purpose.

Moderator:

Ceyla Pazarbasioglu (Director, Strategy, Policy and Review Department, IMF)

Ceyla Pazarbasioglu is Director of the Strategy, Policy, and Review Department (SPR) of the IMF, a position she has held since 2020. Ms. Pazarbasioglu leads the work on the IMF’s strategic direction and the design and implementation of its policies and lending activities across all IMF member countries. In this capacity, she led the IMF’s response to the COVID-19 pandemic, including scaled up emergency financing, negotiations on the historic $650 billion 2021 general allocation of Special Drawing Rights, and creation of the IMF’s Food Shock Window in the wake of the 2022 food price shock.

Panelists:

Jong-Wha Lee (Professor of Economics, Korea University; former chief economist, ADB; former senior advisor for international economic affairs to the president of Korea)

Jong-Wha Lee is a Professor of Economics at Korea University. He was formerly the Chief Economist and Director General of the Economics and Research Department at the Asian Development Bank, and he worked as an economist at the International Monetary Fund. He has also served as a senior adviser for international economic affairs to the former President of South Korea and as the country's G20 sherpa. rofessor Lee has taught at the Australian National University, Columbia University, Harvard University, and Peking University, and he holds both a Master’s degree and a Ph.D. in economics from Harvard University. His research, which focuses on human capital, growth, economic integration, and macroeconomics, has been published in top journals.

Kouqing Li (Director, ASEAN+3 Macroeconomic Research Office (AMRO))

Kouqing Li has served as Director of the ASEAN+3 Macroeconomic Research Office since May 27, 2022. Previously, he was President of the Asia-Pacific Finance and Development Institute and Shanghai National Accounting Institute, leading institutions affiliated to China’s Ministry of Finance.A key figure in regional financial cooperation, Dr. Li has deep expertise in APEC and ASEAN+3 financial cooperation mechanisms. He has spearheaded strategic initiatives, fostered partnerships with international organizations, and contributed significantly to regional economic resilience and financial stability.With extensive experience in macroeconomic and financial research, he has also served on the Global Development Learning Network and Shanghai Data Exchange expert panels.

Atsushi Mimura (Vice Minister of Finance for International Affairs, Japan)

Atsushi Mimura is the Vice Minister of Finance for International Affairs. He assumed the current position in July 2024. Since he joined the ministry in 1989, he has held many senior positions, including Director-General of the International Bureau (2021-2024) and Deputy Director-General of the International Bureau (2020-2021). He also has extensive experience in financial sector regulation and supervision, including at the Financial Services Agency of Japan (2004-2007, 2010-2014) and the Financial Stability Board (2007-2010). He received his L.L.B. from the University of Tokyo (1989) and Diploma of International Public Administration from Ecole Nationale d’Administration (ENA) of France (1993).

Nandalal Weerasinghe (Governor, Central Bank of Sri Lanka)

Nandalal Weerasinghe is the Governor of the Central Bank of Sri Lanka. He served at the Central Bank for nearly 30 years in different capacities including Chief Economist/Director of Economic Research, Assistant Governor, Deputy Governor and Senior Deputy Governor. He served as an Alternate Executive Director for India, Sri Lanka, Bangladesh and Bhutan, at the International Monetary Fund. He served as Visiting Lecturer in Economics at the University of Colombo, Visiting Research Economist at the SEACEN Centre, and Visiting Research Fellow and Advisory Board Member of the Centre for Applied Macroeconomic Analysis in the Crawford School of Public Policy, Australian National University. He worked as an Independent Consultant for economic and financial matters for multilateral agencies and global investment.

3:10 – 4:40 PM JST

Panel Discussion: The Fund and Asia Going Forward

The final panel will draw on the discussions of the three sessions, providing the audience with a tour d’horizon on issues covered and giving an opportunity for Asian policy makers to share their views and engage with the audience.

Moderator:

Shery Ahn (Bloomberg)

Shery Ahn is the Tokyo-based anchor of “Bloomberg: The Asia Trade,” airing weekdays 7-9 am HKT. Ahn has interviewed some of Asia’s top leaders including Honda’s Toshihiro Mibe and LG Electronic’s William Cho as well as Tokyo’s Governor Yuriko Koike and Japan’s Digital Minister Kono Taro.Ahn was raised in Bolivia and speaks Spanish, English and Korean. Before moving to Tokyo, she was based in New York, bringing the market close on Wall Street to Bloomberg’s global audience. As Bloomberg’s Emerging Markets Correspondent, Ahn also interviewed some of the developing world’s top policymakers including the Philippines’ Ferdinand Marcos Jr., Pakistan’s Shehbaz Sharif, Bank of Korea’s Rhee Chang-yong, and Brazil Central Bank’s Roberto Campos Neto.

Panelists:

Nigel Clarke (Deputy Managing Director, IMF)

Nigel Clarke assumed the role of Deputy Managing Director at the IMF on October 31, 2024.Before joining the IMF, Mr. Clarke served as Jamaica’s Minister of Finance and the Public Service, and a Member of Parliament, since March 2018. Prior to this, he served as Ambassador of Economic Affairs from 2016. During this period, he stewarded his country’s economy to a stronger and more sustainable position. He spearheaded ambitious national reforms, including central bank independence, creation of an independent fiscal commission, as well as other tax policy, public body governance, public procurement, public sector compensation, and public investment management reforms.

Montek Ahluwalia (Center for Social and Economic Progress Distinguished Fellow; former Deputy Chairman of the Planning Commission of India; first Director of the Independent Evaluation Office of the IMF)

Montek Ahluwalia, is a Distinguished Fellow of the Centre for Social and Economic Policy (CESP) in New Delhi. He is an Indian economist who also served as the Deputy Chairman of the Planning Commission of the Republic of India from 2004 to 2014. He was previously the first Director of the Independent Evaluation Office at the IMF from 2001 to 2004. Montek Ahluwalia has been a key figure in the Indian economic reforms process on a continuous basis since the mid-1980s. He served as Special Secretary to Prime Ministers Rajiv Gandhi and VP Singh; as Commerce Secretary from 1990 to1991; as Secretary, Economic Affairs and Finance Secretary in the Ministry of Finance 1991-1998.

Zeti Aziz (Founding Chair, Board of Governors, Asia School of Business; former Bank Negara Malaysia Governor)

Zeti Aziz is Founding Chair, Board of Governors of Asia School of Business. She also served as Governor of Bank Negara Malaysia for 16 years (2000-2016). In 1998, following the Asian financial crisis, she had an important role in managing the resolution of the financial system and the rapid recovery of the Malaysian economy. In the decade that followed, she was instrumental in instituting wide ranging financial reforms in the Malaysian financial system and building its robust resilience. In Asia, Dr. Zeti was active in strengthening regional cooperation and was unrelenting in working for regional financial integration. She is active in the financial inclusion agenda and an important voice for the emerging world concerning the international financial system and financial and economic management.

Justin Hayhurst (Australia’s Ambassador to Japan)

Justin Hayhurst is Australia’s Ambassador to Japan and took up the appointment in January 2023. He is a senior career officer with the Department of Foreign Affairs and Trade and was most recently Deputy Secretary of the Geostrategic Group and Australia’s Senior Quad Official. Previously, Mr. Hayhurst was First Assistant Secretary International in the Department of Prime Minister and Cabinet. He was First Assistant Secretary of the Foreign Policy White Paper Taskforce from 2016 to 2017. He served as Deputy Head of Mission at the Australian Embassy, Beijing, from 2012 to 2016. From 2007 to 2009, he served as Adviser to the Minister for Foreign Affairs on North Asia, South Asia, Afghanistan, Iraq and counter-terrorism.

Takehiko Nakao (Chairman, Center for International Economy and Strategy Adviser, Sumitomo Corporation; former president of Asian Development Bank)

Takehiko Nakao is Chairman at the Center for International Economy and Strategy and Advisor for Sumitomo Corporation. He served as the President of the Asian Development Bank (ADB) from April 2013 to January 2020. He teaches as Visiting Professor at the National Graduate Institute for Policy Studies (GRIPS) and Graduate School of Public Policy, the University of Tokyo. He was the Vice Minister of Finance for International Affairs between 2011 and 2013. He has had extensive experience in international finance, budget, tax policy, and financial market since he joined the Ministry of Finance in 1978. He was Minister at the Embassy of Japan in Washington D.C. and worked as advisor at IMF's Policy Development and Review Department.

4:45 – 4:55 PM JST

Closing Remarks

Akihiko Yoshida (Director, Regional Office for Asia and the Pacific, IMF)

Akihiko Yoshida was appointed as Director of the International Monetary Fund’s Regional Office for Asia and the Pacific (OAP), on December 1, 2022. He had a long and distinguished career in the Japanese government and served in key positions, including Deputy Vice Minister for International Affairs, Deputy Director General of International Bureau (both in the Ministry of Finance), and Deputy Commissioner for International Affairs at the Financial Services Agency. He headed the FX Markets Division, IMF Division, Development Policy Division and Regional Financial Cooperation Division during his time in the Ministry of Finance and oversaw G7, G20 and ASEAN + 3 relations. He has an extensive experience in international economic policy issues and represented Japan in different capacities in international fora.