DANISH CENTRAL BANK GOVERNOR IN BARBADOS TO DISCUSS FIXED EXCHANGE RATE REGIME
Governor of the Central Bank of Denmark, Per Callesen, will discuss the merits of fixed exchange rate regimes in small economies at a seminar at the Grande Salle, Tom Adams Financial Centre on Thursday, February 5 at 12 noon.
His topic on this occasion is “Experiences with Fixed Exchange Rates and Economic Performance in Small European Economies“.
Like Barbados, Denmark has a fixed exchange rate. Their currency, the Krone, is fixed to the Euro and our dollar to the United States dollar. Denmark has enjoyed a fixed exchange rate regime for more than 30 years, Barbados, for just under 40.
“Denmark has conducted a fixed-exchange-rate policy since the early 1980s, initially against the Deutsche-mark and then against the Euro. This policy has provided a solid anchor for low and stable inflation expectations in our country. For many years, the overall economic policy – the fixed exchange rate policy and the stability oriented fiscal policy – has provided the basis for a stable economic development,” Callesen said days before his visit to Barbados.
The Central Bank of Barbados is encouraging economists, technocrats, business people and anyone with an interest in understanding why fixed exchange rates work in small economies like ours to attend the event or follow the live stream on the Bank’s website at www.centralbank.org.bb.
Callesen became the Governor of the Central Bank of Denmark in February 2011. He was Executive Director for the Nordic-Baltic constituency at the IMF, Washington DC, 2010-2011.
He is currently inter alia a member of the Danish Economic Council, the Danish Systemic Risk Council, the Economic and Financial Committee of the EU (EFC), Economic Policy Committee (EPC) of the OECD, the Nordic-Baltic Monetary and Financial Committee (NBMFC/IMF) and co-chairs the Financial Stability Board (FSB) regional subgroup on Europe.
He was a previous member of or chaired committees or subgroups at the EU and the OECD on fiscal policy examinations, financial issues, labour market issues and country examinations of structural policies.