ASEAN+3 Economic Cooperation and Financial Stability Forum (AMRO Forum) 2024
ASEAN+3 Economic Cooperation and Financial Stability Forum (AMRO Forum) 2024
Monday, December 16, 2024
09:00 - 15:30 (GMT+9) | 08:00 - 14:30 (GMT+8)
Contact: secretariat@amroforum2024.org
The ASEAN+3 Economic Cooperation and Financial Stability Forum, or AMRO Forum, is a platform for regional and global exchange of knowledge and ideas on economic cooperation and financial stability.
In its third edition, AMRO will co-organize the forum with the International Monetary Fund (IMF) and Bank of Korea, with a common goal of achieving macroeconomic and financial resilience and stability for the region.
This year’s theme is Sustainable Growth: Reinforcing Resilience, Revitalizing Productivity. Despite the robust growth momentum over the past decades, the ASEAN+3 region’s development path stands at a critical juncture. Various risks and challenges such as geoeconomic fragmentation, policy uncertainty, aging population, climate change, and rapid technological change, have reset the exogenous conditions for the region’s medium to long-term growth strategy.
The forum will discuss the near-term risks and challenges to the region’s macro-financial stability and outlook, and present solutions and initiatives to promote its medium to long-term economic growth journey. There will be two sessions, comprising keynote speeches and panel discussions.
Join us online on December 16, 2024!
WATCH REPLAYProgram
Speakers
Kouqing Li
Director, AMRO
Dr. Kouqing Li began to serve as Director of ASEAN+3 Macroeconomic Research Office (AMRO) on May 27, 2022.
Before joining AMRO, he was President of the Asia-Pacific Finance and Development Institute (AFDI) and Shanghai National Accounting Institute (SNAI), two leading institutions affiliated to the Ministry of Finance of the People’s Republic of China. Dr. Li also sat on the Global Council of the Global Development Learning Network (GDLN) and the Expert Panel of Shanghai Data Exchange.
As an active player in regional financial cooperation, Dr. Li has a profound understanding of APEC and ASEAN+3 financial cooperation mechanisms. He has demonstrated strong strategic vision and exceptional leadership, and spearheaded a number of important strategies and initiatives in promoting regional financial cooperation. Furthermore, he has led in driving strategic partnerships with many international organizations, government agencies, research institutions, and think tanks in the Asia-Pacific region.
Dr. Li is well-versed in macroeconomic and financial research, covering the areas of finance management, digital economy, supply chain and low-carbon economy.
He holds a Ph.D. in Business Administration; in addition to a Master of Economics, major in Trade Economics; and a Bachelor of Economics, major in Trade Economics from the Shanghai University of Finance and Economics.
Sang-mok Choi
Deputy Prime Minister and Minister of Economy and Finance, Republic of Korea
H.E. Sang Mok Choi is the Deputy Prime Minister and Minister of Economy and Finance of the Republic of Korea.
Prior to assuming this position, he was Senior Secretary to the President for Economic Affairs at the Office of the President (May 2022 - Dec 2023) and President of Agricultural Cooperative University (Jun 2020 - May 2022).
His career has also included influential roles in policy coordination and international relations, such as the post of 1st Vice Minister and Director General for Economic Policy at the Ministry of Economy and Finance, along with experience at the OECD.
Dr. Choi received a Ph.D. in Economics from Cornell University and holds a B.A. in Law from Seoul National University.
Krishna Srinivasan
Director, Asia and Pacific Department, International Monetary Fund
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, including Brazil, Canada, Mexico, Peru, Ecuador and the island economies of the Caribbean, the department’s research activities, and its flagship product, Regional Economic Outlook (REO) for Latin America and the Caribbean. He also co-edited several books, including Brazil—Boom, Bust and the Road to Recovery; Unleashing Growth and Strengthening Resilience in the Caribbean; and Challenges for Central Banking: Perspectives from Latin America. 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. In the context of the work on the G20, he edited a book titled Global Rebalancing: A Roadmap for Economic Recovery. Krishna has been with the IMF since 1994 and has served in several departments across the institution. He secured his PhD in International Finance from Indiana University and a post-graduate degree from the Delhi School of Economics, India, and has published several papers both at the IMF and in leading academic journals.
Masatsugu Asakawa
President, Asian Development Bank
Masatsugu Asakawa is the President of the Asian Development Bank (ADB) and the Chairperson of ADB’s Board of Directors. He was elected President by ADB’s Board of Governors and assumed office on 17 January 2020. In August 2021, he was reelected for a 5-year term starting on 24 November 2021.
Under Mr. Asakawa’s leadership, ADB made significant contributions to the region’s COVID-19 pandemic response and recovery planning with a $20 billion comprehensive response package and $9 billion Asia Pacific Vaccine Access Facility. He also played a key role in rolling out a series of new and innovative financing initiatives—including an Energy Transition Mechanism — to spur the region’s low-carbon development and elevated ADB’s 2030 cumulative climate financing ambition to $100 billion as ADB continues to focus on the battle against climate change.
Prior to joining ADB, he served as Special Advisor to Japan’s Prime Minister and Minister of Finance, and has a close-to-four decades’ career at the Ministry of Finance with diverse professional experience that cuts across both domestic and international fronts.
In the immediate aftermath of the Global Financial Crisis, Mr. Asakawa, in his capacity as Executive Assistant to Prime Minister Taro Aso, took part in the first G20 Leaders’ Summit Meeting in November 2008. He was instrumental in orchestrating a globally coordinated financial package to abate the financial crisis, including a $100 billion loan from Japan to the International Monetary Fund (IMF). Then in 2016, in his capacity as Vice Minister of Finance for International Affairs, he took on a leading role for the G7 Finance Ministers and Central Bank Governors’ meeting in Sendai under the Japanese presidency, where a sustainable and inclusive development agenda was extensively discussed.
Most recently, he served as Finance Deputy for the G20 meetings under the Japanese presidency, playing a pivotal role for the success of the G20 Osaka Summit as well as the G20 Finance Ministers and Central Bank Governors’ meeting in Fukuoka. Some of his outstanding achievements in Osaka include the endorsement by the G20 Leaders of the “G20 Principles for Quality Infrastructure Investment” and the “G20 Shared Understanding on the Importance of UHC Financing in Developing Countries”. Before these, he had occupied various prominent positions within the Finance Ministry, including director positions in charge of development policy issues, foreign exchange markets, and international tax policy.
Mr. Asakawa’s professional experience extends beyond the realms of the Japanese government. Most notably, he served as Chief Advisor to ADB President Kimimasa Tarumizu between 1989 and 1992, during which time he spearheaded the creation of a new office focused on strategic planning. Also, he had frequent engagement with the Organisation for Economic Co-operation and Development in such positions as Chair for Committee on Fiscal Affairs (2011–2016). Furthermore, he was a senior staff at the Fiscal Affairs Department of the IMF (1996–2000). In the meantime, he gave lectures as Visiting Professor at the Graduate School of Economic Science, Saitama University (2006–2009), and at the Graduate School of Arts and Sciences, University of Tokyo (2012–2015).
Mr. Asakawa obtained his BA from University of Tokyo (Economics Faculty) in 1981, and MPA from Princeton University, USA, in 1985.
Sri Mulyani Indrawati
Minister of Finance, Indonesia Ministry of Finance
Born in Tanjung Karang, Bandar Lampung on August 26, 1962, Sri Mulyani Indrawati earned her bachelor degree in Economics major from the Universitas Indonesia (1986). Then she continued her study in the University of Illinois Urbana Champaign, United States and earned Master of Science of Policy Economics (1990). In 1992, she earned Ph.D of Economics.
Because of her expertise in the Monetary Economy and Banking as well as Labor Economics research, she was chosen to be the Executive Director of International Monetary Fund (IMF) representing 12 countries in the South East Asia (SEA Group) at the beginning of October 2002. Starting from November 1, 2002, she represented 12 member countries of SEA Group at International Monetary Fund.
On December 5, 2005, she was appointed to serve as the Minister of Finance. In 2008, she served as the Acting Coordinating Minister for Economic Affairs after the Coordinating Minister for Economic Affairs Dr. Boediono was inaugurated as the Governor of Bank Indonesia. Then she was appointed as the Executive Director of World Bank commencing on June 1, 2010. On July 27, 2016, President Joko Widodo inaugurated Sri Mulyani Indrawati as the Minister of Finance in his Working Cabinet.
On December 12, 2023, Sri Mulyani Indrawati received an honorary Honoris Causa Doctor of Laws from the Australian National University (ANU).
On October 21, 2024, she was inaugurated as the Minister of Finance under President Prabowo Subianto's administration. This is marking Sri Mulyani's fourth term as Minister of Finance across different cabinets.
Hoe Ee Khor
Chief Economist, AMRO
Mr. Hoe Ee Khor is AMRO’s Chief Economist, responsible for country and regional surveillance, and related research activities, of the ASEAN+3 economies.
Prior to joining AMRO, Mr. Khor was Deputy Director of the Asia and Pacific Department (APD) at the International Monetary Fund (IMF), overseeing the surveillance work on six ASEAN and twelve Pacific Island countries. Mr. Khor started his career as an economist at the IMF in 1981 where he worked on a wide range of economies in the Western Hemisphere and Asia and Pacific departments. He was the IMF Deputy Resident Representative in China from 1991-1993.
From 2009-2010, Mr. Khor was Head of Economic Development and Chief Economist at the Abu Dhabi Council for Economic Development (ADCED).
Mr. Khor joined the Monetary Authority of Singapore (MAS) in July 1996 and was Assistant Managing Director from 2001 to 2009 where he was responsible for economic research, monetary policy, macro-financial surveillance, and international relations.
Mr. Khor obtained his Bachelor’s Degree in Economics/Mathematics from University of Rochester and a Ph.D. in Economics from Princeton University.
Marzunisham Omar
Deputy Governor, Bank Negara Malaysia
Marzunisham Omar is Deputy Governor of Bank Negara Malaysia (BNM) overseeing the monetary stability, and digital and technology sectors, as well as the Financial Intelligence and Enforcement, and Legal Departments of BNM. Marzunisham is a member of BNM’s Board of Directors, Management Committee, Monetary Policy Committee, Financial Stability Committee, Reserve Management Committee and Risk Management Committee. He also chairs the National Coordination Committee to Counter Money Laundering.
Marzunisham joined Bank Negara Malaysia in 1993 and holds a Master’s degree in Economics from the University of Cambridge. He has 31 years of experience across various functions of central banking, including economic and monetary policy, financial sector regulation and development, financial inclusion and organizational development. From 2015 until 2017, Marzunisham served as Executive Director of the International Monetary Fund (IMF), representing South East Asia.
Francisco G. Dakila, Jr.
Deputy Governor, Bangko Sentral ng Pilipinas
Dr. Francisco G. Dakila, Jr. is the Deputy Governor of the Monetary and Economics Sector. Prior to this, he was the Assistant Governor of the Monetary Policy Sub-Sector, Bangko Sentral ng Pilipinas. He provided highly technical advisory support on matters relating to the formulation, implementation and assessment of policies and programs in his areas of
specialization, which include the monetary, external, real, and financial
sectors.
Before joining the BSP, he worked at the US Agency for International Development (USAID) and at the Agricultural Credit Policy Council. He also previously taught at the University of the Philippines School of
Economics and at the De La Salle University in Manila.
He received his Ph. D. and MA in Economics and B.S. in Economics (magna cum laude) from the University
of the Philippines-School of Economics. He is a lifetime member of the Philippine Statistical Association (PSA) and the Philippine Economics Society (PES), wherein he also served as Secretary and Board Member from 2005-2006. He is also a member of the International Input-Output Association (IIOA). He is currently an Associate Editor of the Philippine Review of Economics. He has published papers at the Philippine Review of Economics, Philippine Statistician, Bangko Sentral Review, and BSP Working Paper series, as well as chapters in several publications of the BSP, including Money and Banking in the Philippines:
Perspectives from the Bangko Sentral ng Pilipinas, and Philippine Central Banking: A Strategic Journey to Stability.
Cynyoung Park
Executive Director, The SEACEN Research and Training Centre
Dr Cynyoung Park is the Executive Director of The SEACEN Centre. She is responsible for setting the Centre’s strategic direction and providing the leadership for the Centre’s in-house faculty experts and support staff to realize its vision of becoming the premier regional Learning Hub for Central Banks in the Asia-Pacific Region.
Dr Park brings over 30 years’ experience in research and policy analysis with a strong focus on growth and development policy, macroeconomic and financial stability, global trade and investment, and regional cooperation and integration. In her previous role as a Research Director and Assistant Chief Economist of the Asian Development Bank (ADB), she regularly participated in various global and regional policy forums such as the G20 Development Working Group, Association of Southeast Asian Nations (ASEAN), ASEAN+3, Asia-Pacific Economic Cooperation (APEC), and Asia-Europe Meeting (ASEM), providing thought leadership on Asian economies and financial markets.
Her work has been widely published in leading academic journals including the Journal of Banking and Finance, Journal of Financial Stability, Journal of Futures Markets, Review of Income and Wealth, and the World Economy. In addition, she has lectured extensively about the Asian economy and financial markets and continues to be invited as a speaker.
Dr Park holds a Ph.D. in Economics from Columbia University in the City of New York and a Bachelor’s Degree in International Economics from Seoul National University.
Albert Park
Chief Economist, Asian Development Bank
Albert F. Park is Chief Economist of the Asian Development Bank (ADB) and Director General of its Economic Research and Development Impact Department. He is chief spokesperson on economic and development trends and leads the production of ADB’s flagship knowledge products and support for regional cooperation fora.
Mr. Park has more than 2 decades of experience as a development economist and is a well-known expert on the economy of the People’s Republic of China. He has worked on a broad range of development issues including poverty and inequality, intergenerational mobility, microfinance, migration and labor markets, the future of work, and foreign investment.
Mr. Park is Chair Professor of Economics, Social Science, and Public Policy at HKUST (on leave). He served as a founding director of HKUST’s Institute for Emerging Market Studies and Center for Economic Policy, and previously held faculty positions at the University of Oxford and University of Michigan.
A national of the United States, he received his bachelor’s degree in economics from Harvard University and his doctorate in applied economics from Stanford University.
Indermit Gill
Chief Economist and Senior Vice President for Development Economics, World Bank Group
Indermit Gill is Chief Economist of the World Bank Group and Senior Vice President for Development Economics.
Before starting this position on September 1, 2022, Gill served as the World Bank’s Vice President for Equitable Growth, Finance, and Institutions, where he helped shape the Bank’s response to the extraordinary series of shocks that have hit developing economies since 2020. Between 2016 and 2021, he was a professor of public policy at Duke University and non-resident senior fellow at the Brookings Institution’s Global Economy and Development program.
Gill led the World Bank’s influential 2009 World Development Report on economic geography. His work includes introducing the concept of the “middle-income trap” to describe how countries stagnate after reaching a certain level of income. He has published extensively on key policy issues facing developing countries—among other things, sovereign debt vulnerabilities, green growth and natural-resource wealth, labor markets, and poverty and inequality.
Gill has also taught at Georgetown University and the University of Chicago. He holds a Ph.D. in economics from the University of Chicago.
Simon Johnson
2024 Nobel Prize Laureate in Economics, Professor, MIT Sloan School of Management
Simon Johnson is the Ronald A. Kurtz (1954) Professor of Entrepreneurship at the MIT Sloan School of Management, where he is head of the Global Economics and Management group. At MIT, he is also co-director of the Shaping the Future of Work Initiative and a Research Affiliate at Blueprint Labs.
In 2024, Johnson received the Sveriges Riksbank Prize in Economic Sciences in memory of Alfred Nobel, joint with Daron Acemoglu and James A. Robinson, “for studies of how institutions are formed and affect prosperity.”
In 2007-08, Johnson was chief economist and director of the Research Department at the International Monetary Fund. He currently co-chairs the CFA Institute Systemic Risk Council with Erkki Liikanen. In February 2021, Johnson joined the board of directors of Fannie Mae, where he is vice chair of the audit committee and a member of the risk and capital committee. He is a Research Associate at the NBER and a Fellow at CEPR.
Johnson was previously a senior fellow at the Peterson Institute for International Economics in Washington, D.C., a cofounder of BaselineScenario.com, a member of the Congressional Budget Office’s Panel of Economic Advisors, and a member of the Federal Deposit Insurance Corporation’s Systemic Resolution Advisory Committee. From July 2014 to early 2017, Johnson was a member of the Financial Research Advisory Committee of the U.S. Treasury’s Office of Financial Research (OFR), within which he chaired the Global Vulnerabilities Working Group.
Rupa Duttagupta
Deputy Director, Asia and Pacific Department, International Monetary Fund
Ms. Rupa Duttagupta is Deputy Director in the IMF’s Asia and Pacific Department since February 2024, and oversees APD’s country work on Cambodia, Indonesia, Lao PDR, the Maldives, Nepal, Singapore, Thailand, and Vietnam, and APD’s strategy work on the ASEAN, financial sector and macro-financial issues. Previously, she was in the IMF’s European Dept. (2021-February 2024) as Mission Chief for Portugal & Sweden and the Senior Budget Manager, as well as in the Strategy, Policy and Review Dept (2015- 2021) as Chief of several divisions and Senior SPR Reviewer for several program and surveillance countries such as Australia, Barbados, China, Euro Area, Georgia, Greece, Iceland, Iran, Mexico, Peru, Philippines, United Kingdom, United States, and Vietnam.
She was Deputy Division Chief in the IMF’s Research Dept. during 2010-2014 where she co-led several World Economic Outlook Reports and Multilateral Surveillance notes.
Rupa holds a Phd in economics from the University of Maryland, College Park. Her
research interest and publications span a wide range of topics such as emerging markets, growth, capital flows, macro-financial issues, and financial crises.
Allen Ng
Group Head, Regional Surveillance, AMRO
Mr. Allen Ng leads the Regional Surveillance group, which is responsible for the annual ASEAN+3 Regional Economic Outlook and related updates. He also leads a team of economists in conducting macroeconomic and financial system surveillance on Thailand.
Previously, he served as the Chief Economist of Securities Commission Malaysia (SCM), where he oversaw the overall macroeconomic surveillance and research work of the SCM. He was also a member of the International Organization of Securities Commissions’ (IOSCO) Committee on Emerging Risks and a member of the board of directors of the Institute for Capital Market Research Malaysia (ICMR), an independent think-tank established by the SCM.
Before joining the SCM, Mr. Ng was Director of Research at Khazanah Research Institute, a think-tank affiliated with Malaysia’s sovereign wealth fund.
Prior to that, he spent more than a decade in Bank Negara Malaysia, serving in various roles over the years. His most recent position at the central bank was Deputy Director of the Monetary Policy Department, where he was primarily responsible for leading macroeconomic surveillance and research on matters relating to money and credit, as well as overseeing the secretariat function of the central bank’s Monetary Policy Committee. He also served as the Deputy Director of the Economics Department where he was responsible for, among other duties, overseeing long-term structural policy research to support the central bank’s economic advisory role to the Malaysian government.
Mr. Ng has a BA and an MPhil in Economics from the University of Cambridge.
Atsushi Mimura
Vice Minister of Finance for International Affairs, Japan Ministry of Finance
Atsushi Mimura, Vice Minister of Finance for International Affairs, assumed his current position in July 2024, after serving as Director-General of the International Bureau in the Ministry of Finance of Japan (MOF) (2021-2024). He has held several key positions on international affairs in MOF, including Deputy Director-General of the International Bureau(2020-2021) and Deputy Vice-Minister of Finance for International Affairs (2018-2020). In these positions, he played a leading role in international development issues, including the IDA 20 replenishment as Japan’s IDA Deputy, and spearheaded the reforms of various domestic legislations, including the amendment of Japan’s Foreign Exchange and Foreign Trade Act in 2019. He also served as Director of the Administration and Legal Division, Minister’s Secretariat (2017-2018).
He also has extensive experience in financial sector regulation and supervision of the largest financial institutions, including through multiple positions in the Supervisory Bureau of the Financial Services Agency of Japan (FSA), namely Director of Banks Division I (2014-2015) and Director of Securities Business Division (2012-2014). Prior to this, he played an
instrumental role in the reforms of international financial regulations during and immediately after the global financial crisis as Director of Office of International Affairs in FSA (2010-2012) and as an inaugural member of the Secretariat of the Financial Stability Board (2007-2010). He was also a financial attaché of the Embassy of Japan in France (1998-2001).
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).
Chayawadee Chai-anant
Assistant Governor, Corporate Relations Group, Bank of Thailand
Dr. Chayawadee Chai-anant is the Assistant Governor of the Corporate Relations Group and the spokesperson of the Bank of Thailand. Prior to this role, she served as a Senior Director at the Bank of Thailand (BOT)’s Corporate Communications Department, overseeing strategic external and internal communication, as well as stakeholder engagement to maintain corporate and brand consistency. She also has experiences in several areas including macroeconomic surveillance and forecasting, monetary and foreign exchange policy and operations, international economics and relations, financial stability monitoring and balance of payments analysis. She also led the Office of Corporate Strategy to help set up the scope and direction of the BOT’s medium-term strategy and vision including the direction of the country’s digital currency.
In addition to her roles at the Bank of Thailand, Dr. Chayawadee was a Senior Officer for Economic Affairs at the Prime Minister’s Strategy Unit. She also worked as a Senior Research Fellow at the Bank for International Settlements Office in Hong Kong and published numerous research and policy papers.
Dr. Chayawadee holds a B.A. in Economics from Chulalongkorn University, M.A. in Applied Economics and a PhD. in Economics from the University of Michigan.
Min Soo Kwon
Deputy Governor, Bank of Korea
Min Soo Kwon serves as the Deputy Governor of the Bank of Korea as of May 2024, overseeing the Reserve Management Group, International Department, and International Affairs Department.
Prior to this role, he was appointed Director General of the Reserve Management Group in June 2023, and before that, he held the position of Deputy Director General in February 2023.
From July 2021 to June 2023, Kwon was the Director of the Reserve Management Strategy Division within the Reserve Management Group. His leadership extended to managing the Reserve Management Group itself from July 2019, where he directed multiple teams including the Reserve Management Planning Team, Treasuries Portfolio Team I, and the Investment Strategy Team.
Kwon’s prior roles include heading the Foreign Exchange Market Team in the International Department from July 2016, and managing the Reserve Management Group’s External Fund Management and Risk Management teams from February 2015. He was also a Deputy Director at the Ministry of Strategy and Finance from February 2014, a position he held while dispatched from the Bank.
In his earlier career, Kwon held various senior positions, including Senior Manager in the Reserve Management Group starting in February 2013, and Investment Officer at the Bank of Korea’s New York Representative Office from March 2010.
Kwon began his career at the Bank of Korea in January 1995 as a Junior Economist in the International Department, after earning a Bachelor of Arts in Business Administration from Yonsei University in February 1995 and an MBA from Yale University in May 2002.