Global South Central Banks Unite: Navigating Economic Challenges with Synergy

The High-Level Policy Conference of Central Banks from the Global South, commemorating the Reserve Bank of India's 90th anniversary, focused on stability and policy collaboration. Delegates discussed strategies to tackle economic challenges including fiscal imbalances, debt, and market volatility, while fostering beneficial partnerships across the Global South.

Delegates from 18 countries, comprising of central bank governors and deputy governors, gathered at a high-level policy conference to discuss economic challenges and strategies. The event was in honor of the Reserve Bank of India's 90th anniversary and aimed to address fiscal imbalances and market volatility.

RBI Governor Shaktikanta Das emphasized the challenge of maintaining stability amid global spillovers and limited fiscal space. He called for robust policy frameworks integrating monetary, prudential, and structural policies to ensure growth and financial stability. RBI Deputy Governor Michael Debabrata Patra highlighted the dynamic nature of monetary policy impacts.

The conference underscored the significance of building synergies within the Global South to influence the international policy landscape, seeking a prosperous and sustainable future. Senior officials, experts, and executives participated to enhance partnerships and strengthen the region's global voice.

(With inputs from agencies.)