## Speech at OAP 25th Anniversary Event by the Honorable SUZUKI Shunichi, Minister of Finance, Japan

## Source details

**Canonical URL:** [Speech at OAP 25th Anniversary Event by the Honorable SUZUKI Shunichi, Minister of Finance, Japan](https://www.imf.org/-/media/files/oap/oap-home/2022/speech-by-fm-suzuki-oap-25th-anniversary-event.pdf)

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### Role of the IMF Regional Office for Asia and the Pacific (OAP)
- OAP serves as a focal point for the IMF's promotion of regional economic and financial market development in the Asia-Pacific region.
- OAP serves as a focal point for the IMF's capacity development activities in the Asia-Pacific region.
- The speech congratulated OAP on its 25th anniversary and emphasized OAP as an invaluable partner of the Japanese government.

### Origins and context: establishment amid crisis
- OAP was established in 1997, amid the Asian financial crisis.
- Post-crisis reforms in Asian economies highlighted in the speech:
  - Adoption of more flexible exchange rate regimes.
  - Repairing the balance sheets of the financial and corporate sectors.
  - Sound macroeconomic management.
- These reforms were presented as efforts to enhance macroeconomic resilience.

### Japan’s role and contributions to IMF technical assistance
- The Japanese Government is identified as the largest-donor country to the IMF’s technical assistance.
- Japan has cooperated with the IMF, OAP, and regional governments to contribute to the development of sound macroeconomic policies in the Asia-Pacific region.

### Capacity development example: Japan-IMF Scholarship Program for Asia (JISPA)
- Under JISPA, "845 graduates" have engaged in policy making and contributed to economic development after returning to their home countries.
- The graduates have leveraged experiences in Japan to support policy formulation in their home countries.

### Historical milestones and outlook
- Japan joined the IMF in 1952.
- The speech states that the IMF and Japan have strengthened their cooperative relationship and contributed to the growth of the Asia-Pacific region over the past "70 years".
- The speaker expressed anticipation of building upon OAP’s history and achievements and looked forward to celebrating the OAP’s "30th" or "50th" anniversary.

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_Source: https://www.imf.org/-/media/files/oap/oap-home/2022/speech-by-fm-suzuki-oap-25th-anniversary-event.pdf_