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The Sixth Asian Monetary Policy Forum Discusses Global Reserve and Digital Currencies

The Asian Monetary Policy Forum (AMPF) convened on Friday for the sixth consecutive year. The highlights of the Forum include presentations and discussions on the dominant role of the US dollar and its implications for monetary policy, as well as challenges posed by digital currencies.

The Forum is co-organised and funded by the University of Chicago Booth School of Business, NUS Business School and MAS.

The AMPF programme kicked off with an opening address by Dr Philipp Hildebrand, Vice Chairman of BlackRock, who took stock of where the global economy is headed, amid the current conjuncture of a growth slowdown and rising trade tensions.

The final session was devoted to policy-oriented presentations and discussions on digital currencies. Moderated by Professor Andrew Levin, Professor of Economics at Dartmouth College, the two speakers examined the implications of private and public cryptocurrencies.

Professor Darrell Duffie, Dean Witter Distinguished Professor of Finance at the Graduate School of Business presented on “Digital Currencies and Fast Payment Systems: Disruption is Coming”. Professor Beatrice Weder di Mauro, Distinguished Fellow-inResidence, Emerging Markets Institute of INSEAD Singapore and Professor of Economics and Chair of Economic Policy and International Macroeconomics at the University of Mainz, Germany, will discuss “Cryptocurrencies’ Challenge to Central Banks”.

Professor Bernard Yeung, Dean and Stephen Riady Distinguished Professor at the National University of Singapore (NUS) Business School, said, “The discussions held at AMPF are evermore essential as we seek ways to balance the disruptions and traditional hierarchy of the global economy. The honest and informative dialogue between industry leaders and policymakers ensures prudent and informed decision-making. ABFER is grateful for the partnership with Chicago Booth, MAS and NUS Business School.”

Mr Edward Robinson, Deputy Managing Director (Economic Policy) & Chief Economist, MAS, said, “AMPF 2019 continues the tradition established by past fora of promoting discourse on pertinent issues facing the international monetary system. We are encouraged by the high-level participation at this Forum and the great interest it has garnered over the years. This year we have commissioned an in-depth study on global reserve currencies and the supply of safe financial assets, which complement previous years’ deliberations on capital flows. I look forward to the different perspectives from our speakers on the implications of digital currencies for monetary and financial stability. Together with Chicago Booth, ABFER and NUS, MAS is pleased to co-organise AMPF 2019 to advance policy research for central banks and the financial industry.”

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