In particular, a failure to stabilise the financial system or resist the considerable downward pressure on the projected inflation path in the initial stages of the pandemic could have given rise to considerably worse macroeconomic performance, falling asset prices and rising credit losses.
Let me now take this opportunity to discuss briefly about the format of the Conference. We will cover the conference theme in five sessions and a panel discussion. We begin with the keynote address by our Deputy Governor Dr. Subir Gokarn followed by the technical sessions and discussions. 7. The first session will deal with what drives investment in Asia.