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Principal Adviser to the Director General of UNIDO Visits LIBA, Chennai

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Principal Adviser to the Director General of UNIDO Visits LIBA, Chennai

Mr. Jebamalai Vinanchiarachi, Principal Adviser to the Director-General, UNIDO delivered a discourse at the Loyola Institute of Business Administration on Sunday, the 26th of July. His session titled, 'Global economic slowdown: The way forward', encapsulated the causes and the impact of the global economic slowdown and most importantly, the various measures that Governments around the world need to adopt to insulate themselves from a global financial crisis.

Mr. Jebamalai Vinanchiarachi, Principal Adviser to the Director-General UNIDO Conducting Session at LIBA, Chennai

Mr. Vinanchiarachi broached the subject of the present financial crisis after breezing us first through the East Asian financial crisis and the dotcom bust at the turn of the century. He briefed us about the various inter-linked causes of the crisis such as easy money, lax lending regulations and CDS and how it led to a global liquidity crunch, rising oil prices and diminished export opportunities for developing nations.

The crux of the discourse was recovery solutions that Governments can adopt to stave off the impending risks that arise in an increasingly integrated and interdependent global economy. Mr. Vinanchiarachi propounded increased investment in R & D and innovation as one of the foremost solutions. Increased investment in education and research will generate new ideas that can be commercially exploited and will lead to job creation.

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Contributed by -
The Media Bureau,
LIBA, Chennai.

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