Even though they had no legal obligation to do so, sponsors voluntarily supported their funds more than 100 times between 1989 and 2003, presumably because allowing a fund to break the buck would have damaged the sponsor’s reputation and franchise. This tendency was well understood by investors.
On behalf of the State Bank of Pakistan, it is a great honor and privilege for me, to welcome you all to this SAARCFINANCE seminar on the important topic of “Economic Modeling and Forecasting – Practices in Central Banks”. In particular, I would like to extend a warm welcome to our guest lecturers, Professor Vasco Gabriel, Dr. Wasim Shahid Malik and Mr. Azhar Iqbal.