Kuwait city: The Central Bank of Kuwait (CBK) affirmed its commitment to supporting scientific and technological research in the fields of modeling and quantitative analysis. The CBK stressed its keenness to provide platforms for constructive dialogue and knowledge exchange that contribute to consolidating financial stability, enhancing the efficiency of economic policies, and achieving sustainable development for the Gulf Cooperation Council (GCC) countries.
According to Kuwait News Agency, this statement was issued by the CBK on the occasion of hosting the ninth edition of the workshop entitled "Exchanging Experiences in Building and Using Economic Models." The workshop was organized in cooperation with the Office of the Economic and Development Affairs Authority at the General Secretariat of the Cooperation Council for the Arab States of the Gulf during the period from November 10 to 12.
The statement highlighted the participation of a select group of experts and academics from prestigious regional and international institutions, including the International Monetary Fund, the World Bank, and the Arab Monetary Fund, alongside specialists from Gulf central banks, government agencies, universities, and research centers.
The workshop commenced with a keynote lecture by Professor Robert Merton, the 1997 Nobel Prize winner in Economics, entitled "Modeling Between the Past, Present and Future and the Integrated Balance Sheet Model," the bank added in its statement. Over the three days, the sessions covered various topics such as monetary policy, financial stability, artificial intelligence applications, big data, climate change, and sustainable development. Additionally, discussions focused on developing models that support economic transformation decisions in the GCC countries, CBK explained.
The bank emphasized the importance of the workshop, which combined scientific vision with practical application through the exchange of expertise between Gulf and international institutions. This initiative aims to enhance the ability to design more effective economic policies.