k c chakrabarty : financial literacy – challenges, strategies and instruments welcome address by dr k c chakrabarty, deputy governor of the reserve bank of india, at the reserve bank of india - organisation for economic co - operation and development ( rbi - oecd ) international workshop on financial literacy, bengaluru, 22 march 2010. * * * 1. mr. pranab mukherjee, hon ’ ble finance minister, government of india, dr. d subbarao, governor, reserve bank of india, mr. richard a. boucher, oecd deputy secretary general, mr. andre laboul, head, oecd financial affairs division and chair, international network on financial education ( infe ), ms. flore - anne messy, principal administrator, oecd, distinguished guests and workshop participants from all over the globe, ladies and gentlemen 2. a very warm welcome to you all to the first ever rbi - oecd initiative on financial literacy workshop in india at this garden city of bengaluru, lovingly referred by the global community as the silicon valley of india. in fact, there could have been no better place than this city as it can not only boast of locating some of the world ’ s best known financial and knowledge - based services technology providers, but the state of karnataka has taken pioneering initiatives in promoting financial literacy through school curriculums. 3. it is a matter of profound pleasure and privilege to welcome mr pranab mukherjee, the hon ’ ble minister of finance, govt. of india who, despite his hectic schedule and multiple responsibilities, has kindly agreed to deliver the keynote address and spare some thoughts for the attendees to work further on. hon ’ ble finance minister, sir, while welcoming, we express our sincere gratitude to you. 4. i also extend a very warm welcome to dr subbarao, governor, reserve bank of india, who has successfully steered the policy course of the rbi through one of the difficult phases in recent times. i welcome you sir. it was your idea that rbi ’ s platinum jubilee celebration should be marked with an event of international impact and long - lasting importance in the financial services sector. this workshop is a fructification of your idea, sir. 5. my special welcome for mr. richard a. boucher, deputy secretary general, oecd for making this workshop possible, along with other oecd officials, who are partners in conducting this workshop

nestor a espenilla, jr : beginning a meaningful conversation - first coordination dialogue on developing the local debt market speech by mr nestor a espenilla, jr, governor of bangko sentral ng pilipinas ( bsp, the central bank of the philippines ), at the local debt market development workshop, manila, 25 august 2017. * * * the securities and exchange commission, the bureau of treasury, and the bangko sentral ng pilipinas are no strangers to coordination and collaboration ( many of our achievements come from working together! ) and while this is not our first time to collaborate, it is the beginning of a new and meaningful conversation. today, we mark a milestone as we unveil the philippine roadmap for developing the local debt market. at the same time, we look forward to engaging in an initial discussion with market participants. this is a great time to begin this conversation! recently, our capital market was recognized as an emerging investment hub in asia by three major debt watchers – moody ’ s, standard and poor ’ s, and fitch. robust economic conditions coupled with government ’ s thrust to promote infrastructure create favourable conditions for capital market deepening. government ’ s vision of a “ golden age of infrastructure ” to support value - added output to the housing, manufacturing, connectivity and agricultural sectors is a game changer. 1 a deeper capital market will mobilize long - term savings for the financing requirements of these priority industries. moreover, gdp is projected to grow at 6. 8 percent in the medium term, with the inflation outlook for the next two ( 2 ) years manageable and within the government ’ s three ( 3 ) percent ± one percentage point target. our international reserves are at a level of eighty point eight billion us dollars ( usd80. 8b ) as of end - july 2017 — enough to cover eight point six ( 8. 6 ) months of imports and payments of goods and services. as if these are not encouraging enough, our discussion on capital market reform received support via technical assistance from the imf. the time is right to talk and take up reforms. colleagues and friends, it is our pleasure to start this conversation with you and to make local history. i am honoured to represent the bsp in this regard. sec commissioner ephyro amatong, treasurer of the philippines, rosalia de leon, representatives of the bankers association of the philippines ( bap ), headed by president nestor tan and bap open