Over the last five years, Griffith has forged partnerships with the central banks of Fiji, Papua New Guinea (PNG), Solomon Islands, Vanuatu and Timor-Leste. Led by Dr Parmendra Sharma of the Griffith Asia Institute and Department of Accounting Finance and Economics, these partnerships have been based on bi-lateral Memorandums of Understanding (MoUs) and the understanding that Griffith will help the central bankers develop capacities for research and policy formulation.
A virtual forum held on 11 November 2020 was the first to bring together South Pacific central bank governors with key stakeholders – Asian Development Bank (ADB), the World Bank, International Monetary Fund (IMF), Department of Foreign Affairs and Trade (DFAT), Ministry of Foreign Affairs and Trade (MFAT), central banks of Australia and New Zealand as well as regional governments, academics and others – to share the research-based opportunities and challenges of COVID-19 for central banking in the region. The purpose of the forum was for information sharing, learning from each other and enhancing the ‘regional’ spirit, with prospective outcomes to include stronger cooperation among the region’s central banks, facilitated by Griffith and ADB, and collaborative research activities leading to policy outcomes.
What makes this event more significant and historic is the signing of a regional Memorandum of Understanding (MoU) between Griffith and our five South Pacific central bank partners.
