High-Level International Conference:                      New Growth Models in a Changing Global Landscape

Jakarta, Indonesia

February 27, 2018

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Agenda

9:00-9:20 a.m.

Welcoming Remarks

Agus Martowardojo, Governor,Bank Indonesia

9:20–9:40 a.m.

Keynote Speech 

Christine Lagarde, Managing Director, IMF

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9:40–10:00 a.m.

Countdown Ceremony for the Voyage to Indonesia and Group Photo

10:00–10:15 a.m.

Coffee Break

10:15–11:30 a.m.

Session I—Towards a New Growth Model in a Changing Global Landscape

The global environment has become more uncertain, including from inward-looking policies in some major advanced economies, China’s ongoing rebalancing, and the rapid development of the digital economy. While countries have adapted their policy frameworks and implemented structural reforms to cope with uncertainty and changes in the global landscape, the search for a new growth model is underway around the world, including in ASEAN. There is a need to address structural challenges and move from factor-driven growth to growth based on productivity and innovation. Panelists will discuss the following: (i) future trends in the global economy that need to be considered such as geopolitical developments and technological change; (ii) the impact of the digital economy on the global economy (iii) countries’ experience in formulating national strategies to remain pertinent in the changing global environment; (iv) structural challenges and reform in a changing global economy; and (v) financial sector reforms to respond to changing global landscape, including the rapid development of digital economy.

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ModeratorChloe Cho, Presenter and Executive Producer, Channel NewsAsia

Panel:

  • Christine Lagarde, Managing Director, IMF
  • Sri Mulyani Indrawati, Minister of Finance, Indonesia
  • Tharman Shanmugaratnam, Chairman, Monetary Authority of Singapore
  • Wayne Swan, MP, Member of the Australian House of Representatives and Former Deputy Prime Minister and Federal Treasurer, Australia

11:30–12:45 p.m.

Session II—Growth and Stability in the New Digital Economy

The development of the digital economy can improve the lives of people around the world, by promoting innovation, entrepreneurship and economic growth. However, the rise of the digital economy also carries implications for financial stability. New challenges from financial innovations, such as digital currencies and block-chain technology, could also alter the role of central banks and the mechanism and frameworks for setting monetary and financial policies in the future. There is a need for a deeper understanding of its economic and social impact on different sectors of the economy as well as the right policies to spread its benefits more broadly. Panelists will discuss (i)how the digital economy affects different sectors of the economy; (ii)opportunities and challenges arising from the accelerated expansion of the digital economy; (iii)countries’ responses to growing financial innovations, including striking the balance between supporting innovation and growth, and preserving financial stability; and (iv)the impact of the new digital economy on financial stability.

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ModeratorAndrew Sheng, Distinguished Fellow, Asia Global Institute, The University of Hong Kong

Panel:

  • Mirza Adityaswara, Senior Deputy Governor, Bank Indonesia
  • Tobias Adrian, Financial Counselor and Director, Monetary and Capital Markets Department, IMF
  • Caroline Atkinson, Head of Global Public Policy, Google
  • Charles Collyns, Director, Independent Evaluation Office, IMF
  • Jason Thompson, Managing Director, GrabPay, Southeast Asia

12:45–2:00 p.m.

Lunch

2:00–3:15 p.m.

Session III—Responding to the Changes in a Global Landscape

The discussions on the first two sessions raise questions on how countries should address the immediate challenges arising from changes in global economy. While many countries around the world will confront similar challenges, this session will focus on how ASEAN countries should deal with those challenges while maintaining high growth, resilience and macrofinancial stability. Panelists will discuss (i)trends that affect the global economy in the near term, including recent policies in advanced economies (such as U.S.tax policy, Brexit), and geopolitical developments; (ii)the resilience of the ASEAN economies to withstand external shocks, (iii)the importance of promoting inclusive growth and reaping the demographic dividend to achieve sustainable growth; and (iv)policy responses to immediate challenges to maintain macroeconomic stability and support growth.

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ModeratorChangyong Rhee, Director, Asia and Pacific Department, IMF

Panel:

  • Jessica Chew, Deputy Governor, Bank Negara Malaysia
  • Hoe Ee Khor, Chief Economist, ASEAN +3 Macroeconomic Research Office (AMRO)
  • Diwa Guinigundo, Deputy Governor, Bangko Sentral ng Pilipinas
  • Chantavarn Sucharitakul, Assistant Governor, Bank of Thailand
  • Perry Warjiyo, Deputy Governor, Bank Indonesia

3:15–3:45 p.m.

Closing Session