Health Financing/Insurance

ADB would be hosting symposium on ‘Ten Year After the Crisis’

Top finance officials from various Asian countries will be gathering at the Asian Development Bank in Manila on 2 July, 2007 for an international symposium titled ‘Asia is Moving Forward: Ten Years After the Crisis’. The symposium will focus on Asia’s transformation in the past ten years, look at the path ahead and how emerging regionalism will shape the economic architecture of the region. The symposium will cover issues related to exchange rate trends, management of international reserves, and visions for monetary and financial integration in Asia. If one recalls, then one can remember that on 2nd July 1997, Thailand floated its currency to stem the outflow of capital. The contagion spread to neighboring Malaysia, Indonesia, the Philippines and South Korea. It is said that Asia has overcome the crisis and has emerged as the fastest growing region in the world. Policymakers in the affected economies turned the crisis into an opportunity to usher in bold economic reforms and revived the region’s economic dynamism. Many had predicted that the region would take generations to recover.

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