Governors of Baltic central banks to discuss financial technology development and research cooperation
On 17–18 July, Vitas Vasiliauskas, Ilmārs Rimšēvičs and Ardo Hansson, Governors of the national central banks of Lithuania, Latvia and Estonia, will meet in Kaunas.
The meeting will focus on financial technology (#FinTech), the driver of innovation and development in the financial services sector, as well as related issues, such as instant payments. Allowing real-time settlements (funds will be credited to the payee within seconds), instant payments should become available in Lithuania already this year.
Representatives of the Baltic central banks will also discuss ways of promoting cooperation in the field of economic and financial research. Together with Vilnius University, the Bank of Lithuania has established the Center for Excellence in Finance and Economic Research, which seeks to encourage high-level discussions on economic and financial issues, contribute to effective economic policy decisions and raise the quality of economic research in the country.
The meeting will also address relevant economic issues as well as ongoing and future structural reforms in the Baltic States, aimed at increasing competitiveness, stimulating economic growth, reducing social exclusions, and encouraging more efficient use of financial and human resources.