The Maldives Monetary Authority (MMA) launched its first-ever Research Conference in Malé, introducing the MMA Research Fund to drive economic research and innovation. The conference, themed “Advancing Economic Research: Policy and Innovation for a Sustainable Future”, brought together policymakers, economists, and industry leaders to explore solutions for pressing global and local challenges.
The highlight of the event was the unveiling of the MMA Research Fund by chief guest Dr Mahamood Shaugee, Chancellor of Maldives National University. Designed to foster high-quality research on economic and financial stability, the fund aims to bridge gaps between academia, practitioners, and policymakers.
In his opening address, Governor Munawar expressed enthusiasm for the initiative, describing it as a step towards actionable policies. “This initiative reinforces our dedication to fostering high-quality research that addresses pressing issues, enhances understanding, and drives progress in macroeconomics and financial stability,” he said.
Strategic Partnerships Signed
The conference also marked the signing of two significant Memoranda of Understanding (MoUs) to strengthen research collaborations. The first, with Universiti Islam Selangor (UIS), focuses on joint research, capacity building, and knowledge sharing. The second, with Dhiraagu, leverages technology and data to advance economic research in the Maldives. “Our partnership with Dhiraagu underscores the critical role of technology in advancing economic research,” Governor Munawar remarked, emphasising the importance of innovation.
Insightful Keynotes and Discussions
Dr Michael Debabrata Patra, Deputy Governor of the Reserve Bank of India, delivered the keynote address, providing insights into the future of global monetary policy. In his speech, chief guest Dr Shaugee highlighted the importance of locally relevant research. “We need research of Maldives for Maldivians to solve economic problems,” he said, calling for greater collaboration.
Showcasing Research and Ideas
The conference featured presentations on groundbreaking research conducted by MMA researchers. Key studies explored inflation inequality, the impact of GST on prices, and the use of big data for tracking housing trends in the Maldives. Discussions were led by academics and experts, fostering dialogue around these critical topics.
Panel discussions added further depth to the conference. Topics included policy adaptation in the age of fintech and artificial intelligence, and how climate change and global energy transitions are reshaping foreign exchange reserves in oil-dependent economies. Panelists, including industry experts and government representatives, examined strategies for navigating these challenges.
Workshops to Follow
The second day of the conference will feature workshops co-hosted by the Asian Development Bank Institute (ADBI) and the Asia-Pacific Applied Economics Association (APAEA). The sessions will focus on key issues such as monetary policy, financial cycles, climate change, and fiscal effectiveness in small economies.
The MMA Research Conference 2024 marks a significant step towards fostering collaboration and innovation in economic research, reinforcing the Maldives’ commitment to building a sustainable and resilient economic future.
