CBN GOVERNORR AWARD IN US 3: L-R: The MD/CEO, First Bank of Nigeria Plc, Adesola Adeduntan; Director General, Debt Management Office, Patience Oniha; Group Managing Director, Diamond Bank, Uzoma Dozie; Deputy Governor, CBN, Dr. Okwu Nnanna; Governor, Central Bank of Nigeria, Mr. Godwin Emefiele; Chairman, Foreign Investment Network, Mrs. Olayinka Fayemi and the CEO, Unity Bank Plc, Tomi Somefun shortly after Emefiele was conferred with the 2017 Forbes Best of Africa Innovative Banking Award at the Willard Intercontinental Hotel in Washington DC…Thursday, October 12, 2017 . PHOTO; SUNDAY AGHAEZE
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Foreign Investment Network (FIN) hosts International Banking on Emerging Markets Forum in Washington DC, U.S. Oct. 14

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In a bid to chart a path for emerging economies in Africa, Foreign Investment Network (FIN) is organizing FIN International Banking on Emerging Markets Forum holding in Washington DC, United States on October 14, 2022.

The event, the largest gathering of economic experts and monetary analyst where decisions that shape global financial operations and economic policies are ratified, will hold on the sidelines of the World Bank/ IMF meetings in Washington DC.

The Forum will be attended by the World Bank, International Monetary Fund, Inter-American Bank Development, African Development Bank, Central Bank governors, Ministers of Finance and financial institutions.

According to a press statement signed by the Chief Operating Officer of FIN, Mr Ayo Ayeni and given to Persecondnews on Thursday in New York, the event is expected to create a platform for heads of financial institutions, policymakers and monetary experts to proffer solutions to the present global economic disruptions and inflation as it affects emerging economies.

Among the topics that will dominate discussions are Global Inflation, Forex imbalance, International Payment Reconciliations, Financial inclusions, Trade Reconciliations, and Off-shore Project Capitalization & Credit.

It will be rounded off with Euroknowledge Award Dinner to be conferred on outstanding governments, financial institutions, policy makers, corporate organizations, corporations and individuals with distinguishing touch of excellence in their various endeavours for which you have equally been nominated.

Among the awardees are Mr Godwin Emefiele, Governor of Central Bank of Nigeria, and Vera Daves De Souse, Angolan Finance Minister.

Some of the expected speakers are Bdelilah Belatik, DBA, Secretary General at General Council for Islamic Banks and Financial Institutions (CIBAFI), Anshula Kant, MD and World Bank Chief Financial Officer, Vera Daves De Sousa, Minister of Finance Angola, Lourdes S. Casanova, Director of the Emerging Markets Institute and other leaders.

It will be recalled that Chetan Dube, Founder and CEO Amelia USA, Mark Minivich, founder of Going Global, Snr advisor to Boston Consulting, Prof. Ngozi Okonjo-Iwella,  the Director General World Trade Organization (WTO) amongst others made the list of past awardees.

FIN has successfully organized more than 40 world class international conferences and Award Ceremonies around the globe. The latest is the FIN International Trade & Investment Forum which held on the margins of United Nations General Assembly (UNGA) in New York on September 23, 2022 with the theme, “Power for Africa’’, a bold attempt to tap into this initiative of former U.S. President Barack Obama and create a conversation around investment in the power sector and renewable energy to trigger economic growth and development in Africa by increase in access to reliable, affordable and sustainable power.

It was attended by several world leaders including former President Olusegun Obasanjo, Prof. Ngozi Okonjo Iwealla, Engr. Abubakar D. Aliyu Minister of Power Nigeria, Mark Minevich (Global Mark) President of Going Global Ventures and other power experts.

 

Background To The Event

Global economic disruptions, international trade imbalance, foreign exchange scarcity, inflation and lack of infrastructure have been some of the challenges facing several emerging economies in Africa. The impact of tightening in global financial conditions and appreciation of the US dollar triggered a general increase in risk aversion, urging a reassessment of the monetary policy of several emerging economies.

Also, COVID-19 dealt a huge blow to the world economy, resulting in an unprecedented 3-percent contraction in global output and massive underperformance in economic projections and in most countries outright declines in output.

As a result, the emerging markets (EMs) were affected particularly. The impact would have been even larger had it not been for decisive and unprecedented policy actions. These actions came with a price, though – their virtually unavoidable side effect was accumulation of vulnerabilities in many countries and sectors.

Over 90 percent of Emerging Economies Central Banks undertook conventional easing by reducing their policy interest rates but perhaps more striking was the widespread and unprecedented usage of asset purchase programs to help ease financial conditions and maintain credit in their domestic economies.

 

POST COVID 19 ECONOMY

Inflation declined early in the pandemic as demand contraction outweighed supply constraints and as commodity prices dropped. The pendulum has swung back in a dramatic fashion with resurgent commodity prices, supply-chain disruptions, labour shortages and recovery in domestic demand spurring inflation to levels not seen in years.

Many Emerging Markets are experiencing sharp rise in food prices, troubling levels of public debt and currency depreciation which is affecting the price of imported goods that account for a sizable share in their consumption basket. There is a concern that global inflation may continue to rise affect.

Concerns over rising inflationary pressures and currency depreciation have compelled an increasing number of Emerging Economies central banks to begin tightening monetary policy.

FIN is a global consulting company and publisher of the foremost investment magazine — FIN magazine as well as the representatives of Forbes Emerging Market in Africa.

Fully committed to raising the international profile of African countries by rendering media campaign and image building services using the international leading media., FIN has over 20 years, as a United Kingdom-based company, been a key driver of Foreign Direct Investment (FDI) for Africa and other developing economies.

FIN is a consultant in Oil and Gas, Agriculture, telecommunications, Metallurgical & Engineering Industries, Infrastructure, Maritime for financing, project assessment, and Risk analysis.

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