52nd PU Colloquium: Andreas Bauer speaks on ‘Growing Old before becoming rich? Macroeconomic Implications of Ageing in Asia’

Chandigarh, February 7, 2019: The Panjab University(PU) Colloquium Committee in collaboration with Department of Economics organized 52nd PU Colloquium organized, PU, here today. Mr. Andreas Bauer, International Monetary Fund (IMF) Senior Resident Representative, for India, Nepal and Bhutan while speaking on ‘Growing Old before becoming rich? Macroeconomic Implications of Ageing in Asia’, asserted that Asia has benefitted significantly from demographic trends in the past decades. He added that faster growth of the working age population which ranges from 15-64 years, over dependents provided an important economic dividend in many countries of the region, in particular, East Asia. However, this dividend is about to end for a number of economies. Some economies are now at risk of growing old before they become rich and demographic trends are set to become more asynchronous across the region. Dr. Jagat Bhushan, Principal, Dr. Harvansh Singh Judge Institute of Dental Sciences & Hospital, in his address enlightened the audience about PU Colloquia and the activities and laurels of PU. He congratulated and appreciated the efforts of PU Colloquium committee for having organized 51 Colloquia till date. He said that it was an honour and a very alluring opportunity for PU and the exuberant audience gathered here today, to have Mr. Andreas Bauer here amongst us. He informed that the purpose of the IMF is to promote international monetary cooperation, to facilitate the expansion and balanced growth of international trade, to promote exchange stability and to prevent unnecessary exchange depreciations, to remove all exchange controls and restrictions and to establish multi-convertibility of all currencies and lastly to help member countries with funds to correct maladjustments in their balance of payments. Prof. Upinder Sawhney, Chairperson, Dept. of Economics briefly introduced the eminent speaker by informing that he held senior positions in the Ministry of Finance of Chile, including Chief of the staff to the Minister. During his 15+ year career at the IMF, he has also worked as a Mission Chief and Senior Economist on a range of countries, mainly in Latin America and the Middle East. Before taking up his current position at New Delhi, he headed a unit in charge of handling International monetary and financial issues, and institutional strategy at the IMF's Washington headquarters. Prof. Promila Pathak, Coordinator Colloquium Series, proposed the vote of thanks. On this occasion, many distinguished scientists and guests, CRIKC Members, a large number of senior and young faculty members, research scholars and UG/PG students from Panjab University, Local Colleges, and neighbouring institutes attended the lecture. The event ended successfully by a vote of thanks proposed by Dr. Shruti Bedi, a member of Colloquium Committee.