RM 2022

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Thursday, 27 October 2022
8:30 am–9:00 am	Registration and Coffee Venue: Tower Ballroom Foyer
9:00 am–10:00 am	Session 6: Sovereign Asset Liability Coordination Format: Presentation Speakers: Mr. Giorgi Laliashvili, Head of Financial Markets, National Bank of Georgia Mr. Zandy Akbar Rassat, Deputy Director for Multilateral Loans and Grant, Directorate of Loans and Grants, Directorate General of Budget Financing and Risk Management, Ministry of Finance of the Republic of Indonesia Ms. Aisyah Mayuliani, Head of Section of Bilateral Loans and Grants 2D, Directorate of Loans and Grants, Directorate General of Budget Financing and Risk Management, Ministry of Finance of the Republic of Indonesia Moderator: Mr. Tobias Hoschka, Assistant Treasurer, Asian Development Bank Important sovereign assets and liabilities, such as international reserves, sovereign wealth funds, financial asset and public debt, are typically managed by different institutions—central banks, fund managers and ministry of finance—with each having their own policy objectives and institutional arrangements. This session will focus on the coordination between all agencies managing the government’s portfolio of financial assets and public debt and what are the main challenges coordination, oversight and governance.
10:00 am 10:15 am	Open Discussion
10:15 am–10:35 am	Coffee Break
10:35 am–11:50 am	Session 7: Effective Debt Management Strategies in Current Macroeconomic Conditions Format: Presentation Speakers: Mr. Erwin Sta. Ana, Deputy Treasurer, Bureau of Treasury, Department of Finance, Philippines Mr. Soulivath Souvannachoumkham, Director General, Public Debt Management Department, Lao, PDR Mr. Paroche Hutachareon, Senior Expert on Bond Market Development, PDMO, Thailand Mr. Irakli Katcharava, Head of Public Debt Management Department, Ministry of Finance, Georgia Moderator: Ms. Lei (Annie) Wang, Principal Treasury Specialist, Asian Development Bank Debt management offices are continuing to face many challenges, particularly with increased uncertainty in the global financial markets and in some countries, higher debt levels. Debt managers may therefore face additional funding pressures to meet government financing requirements particularly for infrastructure development requirements and growth targets. Against this backdrop, debt managers have seen a sharp increase in interest rates driven by the US Federal Reserve. Some countries are reaching levels of debt that are approaching or exceeding debt sustainability thresholds. This session will draw on the experiences of experts from a selection of debt management offices to outline the challenges that they each are facing in the current global environment.
11:50 am–12:05 pm	Open Discussion
12:05 pm–12:45 pm	Session 8: Outlook for the Investment Management of Reserves Format: Presentation Speakers: Ms. Charity S. Malto, Chief Investment Analytics Officer, Financial Markets, Bangko Sentral ng Pilipinas Mr. Shaokai Fan, Global Head of Central Banks, World Gold Council Moderator: Mr. Deepak Taneja, Principal Treasury Specialist, Asian Development Bank In this session, we consider the current trends and challenges for reserve managers in Asia. This session will cover: Reserve accumulation in Asia Appropriate balance between risk and return, degree of public disclosure Integrating environmental, social and governance (ESG) criteria–having a meaningful impact on risk and return outcomes Gold as a reserve asset Applying big data, artificial intelligence, and machine learning to investment management
12:45 pm–1:00 pm	Open Discussion
1:00 pm–2:00 pm	Lunch Break Venue: Acacia
2:00 pm–2:45 pm	Session 9: Conversation: Changing Role of Central Banks – An Asian Perspective Format: Conversation Speakers: Mr. Diwa C. Guinigundo, former Deputy Governor, Bangko Sentral ng Pilipinas Mr. Giri Koorniaharta P., Group Head, Reserves Management Department, Bank Indonesia Moderator: Ms. Sukhumarn (Pinky) Phanachet, Deputy Treasurer, Asian Development Bank Central banks play a crucial role in ensuring economic and financial stability. Since the global financial crisis, central banks have expanded their toolkits to deal with risks associated with financial instability and volatile exchange rates. In a climate of intensifying geopolitical risk, slowing global growth, looming trade tensions and effects of unconventional monetary policy, we have a seasoned former Central Banker providing an Asian perspective on the changing role of central banks.
2:45pm–3:00 pm	Open Discussion
3:00pm–3:20 pm	Coffee Break
3:20 pm–4:30 pm	Session 10: A View from the Issuance Side Format: Presentation Speakers: Mr. Siegfried Ruhl, Hors Classe Adviser to the Director-General for Budget, European Commission (TBC) Mr. Ian Clunies-Ross, Head, Investor Relations, Australian Office of Financial Management Mr. Yasuaki Inada, Deputy Director, Office of Debt Management and JGB Investor, Debt Management Policy Division, Financial Bureau, Ministry of Finance, Japan1 Mr. YeeFarn Phua, Director, Asia Pacific Sovereign Ratings, S&P Global Ratings Moderator: In this session, our speakers will provide a global and regional perspective and comment on developments around the issuance of bonds, the evolution of sovereign ratings and impact of changes in bank and financial market regulation on primary and secondary debt markets. What does this mean for investors? Will liquidity in government and corporate bond markets be affected? What can issuers do to make their bonds more attractive to central banks, sovereign wealth funds, and institutional investors? How are ESG factors going to affect sovereign issuers? This session will also cover ratings outlook for selected sovereigns.
4:30 pm–4:45pm	Open Discussion
4:45 pm–5:00 pm	Closing Remarks Monetary Authority of Singapore Mr. Pierre Van Peteghem, Treasurer, Asian Development Bank