COE -1 06 WASHINGTON, D.C. 9-11, 2016 OCTOBER EMERGING MARKETS FORUM

2016 GLOBAL MEETING The Emerging Markets Forum was created by the Centennial Group as a not-for-pro t initiative to bring together high-level government and corporate leaders from around the world to engage in dialogue on the key economic, nancial and social issues facing Final emerging market countries. Program

The Forum is focused on some 70 market economies in East and South Asia, Eurasia, Latin America and Africa that share prospects of superior economic performance, already have or seek to create a conducive business environment and are of near-term interest to private investors, both domestic and international. Our current list of EMCs is shown on the back cover. We expect this list to eveolve over time, as countries’ policies and prospects change.

Further details on the Forum and its meetings may be seen on our website at http://www.emergingmarketsforum.org

The Watergate O ce Building, 2600 Virginia Avenue, NW, Suite 201

Washington, DC 20037, USA. Tel:(1) 202 393 6663 Fax: (1) 202 393 6556 Emerging Markets Email: [email protected] Forum A nonprofit initiative of the Centennial Group Final Agenda

All sessions will take place in the UDC/Catholic University Room and all meals will take place in the Georgetown University Room in Marriott Marquis Washington DC.

Sunday, October 9, 2016

15:30-17:00 Registration (UDC/Catholic University Room)

17:00-17:20 Welcome Remarks by Forum Co-chairs Enrique Garcia, President and Chief Executive Officer of CAF - Development Bank of Latin America; Hiroshi Watanabe, Former Governor and Chief Executive Officer, Japan Bank for International Cooperation (JBIC); President, Institute for International Monetary Affairs

17:20-17:30 Introduction to the Forum structure: Harinder Kohli, Founding Director and Chief Executive, Emerging Markets Forum

17:30-18:45 A View from Asia: Long-term Challenges Arising from Prosperity in Asia Moderator: Harinder Kohli Speech: Takehiko Nakao, President of Asian Development Bank (ADB) Comments: Biliang Hu, Professor of Economics and Dean of Emerging Markets Institute, Beijing Normal University; Changyong Rhee, Director, Asia and Pacific Department, International Monetary Fund (IMF)

18:45-19:15 Informal Book Launch We Had a Chance: 13 Years at the Helm of the IMF by Michel Camdessus, Former Manager Director, International Monetary Fund (IMF) Master of Ceremony: Jack Boorman, Distinguished Fellow, Emerging Markets Forum Comments by Stanley Fischer, Vice Chairman, U.S. Federal Reserve; James M. Boughton, Former Historian, International Monetary Fund (IMF)

19:15-21:00 Reception and Opening Dinner (Georgetown University Room)

Monday, October 10, 2016

08:45-10:15 Vision of a Reformed Global Monetary System and Call for a New G-20 Chair: Hiroshi Watanabe, Former Governor and Chief Executive Officer, Japan Bank for International Cooperation (JBIC); President, Institute for International Monetary Affairs Presentation: Anoop Singh, Head, Global Financial Markets and Banking Practice, Centennial Group Discussants: Alfredo Eduardo Thorne, Minister of Economy and Finance of Peru; Shigeo Katsu, President, Nazarbayev University; Bernard Snoy, President, The Robert Triffin International Association

10:15-10:30 Coffee Break

10:30-13:15 The World in 2050 Chair: Enrique Garcia, President and Chief Executive Officer of CAF - Development Bank of Latin America Presentation: Harinder Kohli, Founding Director and Chief Executive, Emerging Markets Forum Discussants: Muhamad Chatib Basri, Former Minister of Finance of Indonesia; Qingzhong Pan, Executive Dean, Schwarzman College, Tsinghua University; Julio Velarde, Governor, Central Bank of Peru

1 13:15-14:45 Luncheon (Georgetown University Room)

14:45-16:15 Beyond Growth: Achieving Equity and Human Wellbeing Chair: Alejandro Toledo, Former President of Peru Discussants: Hidehiro Konno, Member of the Board, Mitsubishi Corporation; Mustapha Nabli, Former Governor, Central Bank of Tunisia; Djoomart Otorbaev, Former Prime Minister of Kyrgyz Republic

16:15-16:30 Coffee Break

16:30-18:00 Countries’ Resilience to Economic Shocks Chair: Luis Miguel Castilla, Former Minister of Finance of Peru Presentation: Jose Fajgenbaum, Director, Centennial Group Discussants: Masood Ahmed, Director, Middle East and Central Asia Department, International Monetary Fund (IMF); Thierry de Longuemar, Vice President and Chief Financial Officer, Asian Infrastructure Investment Bank (AIIB); Seiji Shiraki, Corporate Advisor, Mitsubishi Corporation

18:00-18:15 Group Photo (lobby)

18:15-19:15 Cocktail Hour (mezzanine level)

19:15-21:30 Dinner (Georgetown University Room) Introduction: Harinder Kohli, Founding Director and Chief Executive, Emerging Markets Forum Speech: Reflections on Economic and Social Development in Latin America byEnrique Garcia, President and Chief Executive Officer of CAF - Development Bank of Latin America

Tuesday, October 11, 2016

08:30-10:00 Imagining Africa 40 Years from Now Chair: Hiroshi Kato, Vice President, Japan International Cooperation Agency (JICA) Presentation: Theodore Ahlers, Senior Associate, Centennial Group Discussants: Tiena Coulibaly, Ambassador of Mali to the United States; Former Minister of Economy and Finance; Marco Ferroni, Executive Director, Syngenta Foundation for Sustainable Agriculture; Donald Kaberuka, Former President, African Development Bank

10:00-10:30 Coffee Break

10:30-12:00 Beyond Growth: Sustainability of Our Planet - Private Sector Initiatives on Sustainable Finance Chair: Jean-Daniel Gerber, Chairman, Swiss Sustainable Finance; Presentation: Britta Rendlen, Head, Sustainable Finance at WWF Switzerland Discussants: Hiroto Arakawa, Advisor, Sumitomo Corporation; Bindu Lohani, Former Vice- President, Knowledge Management and Sustainable, Asian Development Bank (ADB); Tom Speechley, Chief Executive Officer, Abraaj North America

2 12:00-13:00 Closing Round Table Chair: Gautam Kaji, Chairman of the Advisory Board, Emerging Markets Forum Panel: Donald Kaberuka, Caio Koch-Weser, Alejandro Toledo and Hiroshi Watanabe

13:00-13:10 Looking Ahead and Next Steps Harinder Kohli

13:10-14:15 Farewell Lunch (Georgetown University Room)

3 List of Participants

James Adams Pascal Bezençon Former Vice President, East Asia and Pacific, World Regional Manager, North America, Government & Bank Institutions Services, SGS - Société Générale de United States Surveillance SA Switzerland Theodore Ahlers Senior Associate, Centennial Group Jack Boorman United States Distinguished Fellow, Emerging Markets Forum; Former Counselor and Former Director of Policy Fakhruddin Ahmed Development and Review Department, International Former Prime Minister Monetary Fund (IMF) Bangladesh United States

Jaseem Ahmed James M. Boughton Secretary General, Islamic Financial Services Former Historian, International Monetary Fund (IMF) Board United States Malaysia Mayu Brizuela de Avila Masood Ahmed Director, Inversiones Vision; Former President, Director, Middle East and Central Asia Department, Banco Salvadoreño; Former Minister of Foreign International Monetary Fund (IMF) Affairs International Organization El Salvador

Aktoty Aitzhanova Lourdes Casanova Chairperson, National Analytical Center Senior Lecturer and Academic Director, the Emerging Kazakhstan Markets Institute at the Johnson School of Business, Cornell University Alex Aleksishvili United States Chairman, Policy and Management Consulting Group (PMCG); Former Minister of Finance Luis Miguel Castilla Georgia Former Ambassador of Peru to the United States; Former Minister of Economy and Finance Alisher Ali Peru Chairman, Silk Road Capital Mongolia Taotao Chen Professor, School of Economics and Management; Hiroto Arakawa Director, Center for China-Latin America Management Advisor, Sumitomo Corporation Studies, Tsinghua University Japan China

Ainara Bacaicoa Tiena Coulibaly Executive, President’s Office, CAF - Development Bank Ambassador of Mali to the United States; Former of Latin America Minister of Economy and Finance International Organization Mali

Muhamad Chatib Basri Thierry de Longuemar Former Minister of Finance Vice President and Chief Financial Officer, Asian Indonesia Infrastructure Investment Bank (AIIB) International Organization

4 Peixin Li Dallara Jean-Daniel Gerber Chief Executive Officer, Polaris Investments LLC. Chairman of the Board, Swiss Investment Fund United States in Emerging Markets (SIFEM); Chairman, Swiss Sustainable Finance; Former State Secretary, State Shin Donowaki Secretariat for Economic Affairs (SECO) Vice President & General Manager, Washington Office, Switzerland Sumitomo Corporation of Americas Japan Gerardo Gil-Valdivia President, Club of Rome Mexican Chapter; Member Go Eguchi of COMEXI- Mexican Council for International Senior Vice President and General Manager, Affairs Washington Office, Mitsubishi Corporation (Americas) Mexico Japan Diwakar Gupta Antonio Estrany Gendre Vice President for Private Sector and Cofinancing President, Inter-American Council for Trade and Operations, Asian Development Bank (ADB) Production International Organization Argentina Donald Hanna Jose Fajgenbaum Managing Director, Research, Guard Capital Director, Centennial Group Latin America Management Argentina Hong Kong

Marco Ferroni Nobumitsu Hayashi Executive Director, Syngenta Foundation for Chief Operating Officer, Senior Managing Director, Sustainable Agriculture Japan Bank for International Cooperation (JBIC) Switzerland Japan

Stanley Fischer Biliang Hu Vice Chairman, U.S. Federal Reserve Professor of Economics and Dean of Emerging United States Markets Institute, Beijing Normal University China Richard Frank President & Chief Executive Officer, Darby Overseas Emin Huseynov Investments - Franklin Templeton Investments; Former Deputy Minister of Finance Managing Director, World Bank Azerbaijan United States Gregory Ingram Caleb Fundanga Former President, Lincoln Institute of Land Policy Former Governor, Bank of Zambia; Executive Director, United States Macro Economic and Financial Management Institute for Eastern and Southern Africa (MEFMI) Naoya Jinda Zimbabwe Chief Advisor to the President, Asian Development Bank (ADB) Enrique Garcia International Organization President & CEO, CAF - Development Bank of Latin America; Co-Chair, Latin America and Global Emerging Donald Kaberuka Markets Forums Former President, African Development Bank International Organization Rwanda

5 Gautam Kaji Manmohan Kumar Chair of the Advisory Board, Emerging Markets Forum; Chief Economist, Growth Markets, CDPQ INC. Chair, Centennial Group; Former Managing Director, United States World Bank United States Danny Leipziger Professor of International Business, School of Eliane Karp-Toledo Business, George Washington University; Managing Visiting Scholar, Center for Latin American Studies, Director, The Growth Dialogue Stanford University; Director, Projects and Policies of United States Social Inclusion, Global Center for Development and Democracy Johannes Linn Peru Distinguished Resident Scholar, Emerging Markets Forum; Former Regional Vice President, World Hiroshi Kato Bank Vice President, Japan International Cooperation United States Agency (JICA) Japan Bindu Lohani Distinguished Fellow, Emerging Markets Forum; Shigeo Katsu Former Vice President, Knowledge Management and President, Nazarbayev University; Former Regional Sustainable Development, Asian Development Bank Vice President, World Bank (ADB) Kazakhstan Nepal

Lesetja Kganyago Claudio Loser Governor, South African Reserve Bank Director, Centennial Group; Chief Executive Officer, South Africa Centennial Group Latin America Argentina Maritta Koch-Weser Founder and President, Earth3000 Rakesh Mohan Germany Senior Fellow, Jackson Institute for Global Affairs, Yale University; Former Deputy Governor, Reserve Bank of Kiyoshi Kodera India Advisor, Sompo-Japan-Nipponkoa Insurance India Inc.; Former Vice-President, Japan International Cooperation Agency Paulo Azevedo Moura Japan President, Azevedo Moura e Associados Brazil Kazuhiko Koguchi Executive Director for Japan, World Bank Mustapha Nabli International Organization Former Governor, Central Bank of Tunisia Tunisia Harinder Kohli Founding Director and Chief Executive, Emerging Takehiko Nakao Markets Forum; President and Chief Executive Officer, President, Asian Development Bank (ADB); Co-Chair, Centennial Group Emerging Markets Forum United States International Organization

Hidehiro Konno Sylvie Naville Member of the Board, Mitsubishi Corporation; Former Director, Emerging Markets Forum Vice Minister of Trade and Industry France Japan

6 Beatriz Nofal Anoop Singh President, Eco-Axis; Director, International Women’s Head, Global Financial Markets and Banking Practice, Forum (IWF) Centennial Group; Former Director, Asia and Pacific Argentina Department, International Monetary Fund (IMF) United States Djoomart Otorbaev Former Prime Minister Bernard Snoy Kyrgyz Republic President, The Robert Triffin International Association Belgium Qingzhong Pan Anil Sood Executive Dean, Schwarzman College, Tsinghua Director, Emerging Markets Forum; Chief Operating University Officer, Centennial Group China India

Carlos Pareja Tom Speechley Ambassador of Peru to the United States Chief Executive Officer, Abraaj North America Peru United States

Britta Rendlen Craig Steffensen Head, Sustainable Finance at WWF Switzerland Representative, North American Representative Office, Switzerland Asian Development Bank (ADB) International Organization Changyong Rhee Director, Asia and Pacific Department, International Shigemitsu Sugisaki Monetary Fund (IMF) Vice Chairman, Goldman Sachs Japan Co. Ltd. International Organization Japan

Andres Rugeles Marcus Svedberg Corporate Secretary, CAF - Development Bank of Latin Adviser to the Executive Director, World Bank America International Organization International Organization Toshikazu Takatori Jean-Louis Sarbib General Manager, International Economic Cooperation Chief Executive Officer, Development Gateway & Public-Private-Partnership Promotion Department, United States Sumitomo Corporation Japan Michalis Sarris Former Minister of Finance Kikuko Takeda Cyprus Senior Economist, Economic Research Department Institute for International Monetary Affairs Wolfgang Schurer Japan Georgetown International Financial Advisory United States Alfredo Eduardo Thorne Minister of Economy and Finance Michael Shifter Peru President, Inter-American Dialogue United States Melane da Tindade-Asher Founder and Chief Executive Officer, Macchu Pisco Seiji Shiraki Peru Corporate Advisor, Mitsubishi Corporation Japan

7 Alejandro Toledo Former President of Peru; President, Global Center for Development and Democracy Peru

Edwin Truman Senior Fellow, Peterson Institute for International Economics United States

Hasan Tuluy Senior Associate, Centennial Group; Former Regional Vice President, World Bank Turkey

Makoto Utsumi Chairman of the Global Advisory Board, Tokai Tokyo Financial Holdings, Inc.; Former President and Chief Executive Officer, Japan Credit Rating Agency Ltd. Japan

Julio Velarde Governor, Central Bank of Peru Peru

Joaquin Vial Board Member, Central Bank of Chile Chile

Linda Walker Managing Director, Walker von Graffenried Asset Management AG Switzerland

Hideki Watanabe Deputy Director, Planning and TICAD Process Division, Africa Department, Japan International Cooperation Agency (JICA) Japan

Hiroshi Watanabe Former Governor and Chief Executive Officer, Japan Bank for International Cooperation (JBIC); President, Institute for International Monetary Affairs Japan

Ghislaine Weder Head, Economics and International Relations, Nestlé Switzerland

8 ADDITIONAL PARTICIPANTS’ PROFILES 9 United States Stanley Fischer Vice Chairman, U.S. Federal Reserve Vice Chairman, Dr. Fischer is married with three adult children. Fischer is married with three Dr. Dr. Fischer was born in Lusaka, Zambia, in October 1943. He received his B.Sc. and M.Sc. in economics from the London in economics from his B.Sc. and M.Sc. was born Fischer in October 1943. He received in Lusaka, Zambia, Dr. in 1969. the Massachusetts Institute of Technology his Ph.D. in economics from School of Economics. He received scholarly books. He has been a fellow at the Guggenheim Foundation, the American Academy of Arts and Sciences, and the and Sciences, and Arts of Academy American the Foundation, Guggenheim the at fellow a been has He books. scholarly and an honorary fellow of Economic Research associate at the National Bureau as well as a research Econometric Society, at the London School of Economics. postdoctoral fellow at the University of Chicago. he is the author and editor of several has published many articles on a wide variety of economic issues, and Fischer Dr. From 1977 to 1999, Dr. Fischer was a professor of economics at the Massachusetts Institute of Technology (MIT). From 1992 (MIT). From of economics at the Massachusetts Institute of Technology Fischer was a professor to 1999, Dr. 1977 From Fischer was an associate 1973 to 1977, Dr. From Killian Class of 1926 professor. to 1995, he was the Elizabeth and James a and economics of professor assistant an was Fischer Dr. faculty, MIT the joining to Prior MIT. at economics of professor director of the International Monetary Fund from September 1994 through August 2001. From January 1988 to August 1990, January 1988 to August 2001. From September 1994 through the International of from Monetary Fund director Bank. he was the chief economist of the World Prior to his appointment to the Board, Dr. Fischer was governor of the Bank of Israel from 2005 through 2013. 2005 through Fischer was governor of the Bank of Israel from Dr. Prior to his appointment to the Board, Fischer served as the first deputy managing Dr. chairman of Citigroup. Fischer was vice 2002 to April 2005, Dr. February From unexpired term ending January 31, 2020. He was sworn term ending January of Governors in as Viceunexpired on June 16, 2014. Chairman of the Board on June 12, 2018. His term as Vice Chairman expires Stanley Fischer took office as a member of the Board of Governors to fill an Federal Reserve System on May 28, 2014, of the a member of the Board as office Stanley Fischer took