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ADB officials, experts to dissect global economy in Manila this week

Officials of multilateral lender Asian Development Bank (ADB) are expected to arrive in the country this week to discuss the future of global economy.

In an emailed statement Monday, the Department of Finance (DOF) said experts in various fields are also converging in the country to discuss technology and the global economy during the 51st Annual Meeting of the bank’s board of governors.

“Distinguished experts in the fields of history, international economics and digital finance will share their insights on how today’s tectonic shifts in the global economy and new technologies will shape the future,” the DOF said.

Finance Secretary Carlos Dominguez III serves as chairman of the ADB Board of Governors, in line with the Philippine hosting of this year’s annual meeting on May 3 to 6.

Dominguez will open the meeting with remarks, and Bangko Sentral ng Pilipinas (BSP) Governor Nestor Espenilla Jr. will close the event with his own remarks.

Among the foreign officials to attend the meeting are Indonesian Finance Minister Sri Mulyani Indrawati and Asian Infrastructure Investment Bank vice president Thierry de Longuemar.

Also to speak at the event are ADB President Takehiko Nakao, ADB Institute Dean Naoyuki Yoshino, and Monetary Board member Felipe Medalla.

Among the panelists are historian Dr. Peter Frankopan, economist Dr. Paola Subacchi, and financial technology leader Eric Jing.

The three speakers, along with banking and finance experts, are set to discuss the theme “Past, Present and Future of the World Economy.”

Delegates are also expected to discuss globalization, technology and its impact on jobs, private sector mobilization in funding infrastructure, and using technology to maximize skills of aging populations.

This year, the focus of the meeting would revolve on making "progress more evenly felt throughout the entire membership of the ADB,” Dominguez said. —Jon Viktor Cabuenas/VDS, GMA News