Haruhiko Kuroda: For sustainable development of emerging economies

Speech by Mr Haruhiko Kuroda, Governor of the Bank of Japan, at the 2019 Global Meeting of the Emerging Markets Forum, Leesburg, Virginia (USA), 20 October 2019.

The views expressed in this speech are those of the speaker and not the view of the BIS.

I. Introduction

It is my great pleasure to have the opportunity to give a speech at the Emerging Markets Forum today.

The situation surrounding emerging economies has been changing rapidly. The global economy has recently been slowing down and there are various downside risks, ranging from trade tensions to geopolitical risks.

At this difficult point in time, it is critically important for the global economy that emerging economies achieve sustainable growth. As you well know, after the global financial crisis, the growth of emerging economies contributed significantly to the recovery of the world economy. Over 70 percent of the recovery in the global economy since 2009 is due to the contribution of emerging economies. It would not be too much to say that the performance of emerging economies is key to the global economy.