Rapid advances in financial technology – fintech – are transforming the global economic and financial landscape. Fintech can support growth and poverty reduction by strengthening financial development, inclusion and efficiency, but may also pose risk to financial stability and integrity as well asconsumer and investor protection. In response to calls from member countries, the IMF and World Bank Group have developed the “Bali Fintech Agenda” as a blueprint for policymakers and the international community. Christine Lagarde, managing director of the IMF, and Jim Yong Kim, president of the World Bank Group, presented the Agenda in a panel discussion, where they were joined by Sri Mulyani Indrawati, minister of finance of Indonesia and chair of the Development Committee, Lesetja Kganyago, governor of the South African Reserve Bank and chair of the IMFC, and Mark Carney, governor of the Bank of England and chair of the Financial Stability Board. President of Indonesia Joko Widodo (Jokowi) delivered the opening remarks. Reflecting on the origins of ...
Type: Event
East Asia Pacific is home to the world’s largest and fastest growing internet user base. Digital technologies are transforming how firms conduct business, workers perform jobs, and citizens interact with governments. Yet, there are still questions as to what the spread of these technologies means for the development trajectory of countries in the region and their abilities to address the challenges they face. Panelists from government, business and civil society in the region will discuss how East Asia and Pacific countries can take advantage of the opportunities – and offset the risks – of the digital economy.
Type: Event