AEF to Feature High Level Conference on Economic Challenges

ASTANA – The high-level conference “Economic, financial and monetary changes in the world economy” will be held on May 21 within the Astana Economic Forum in the Kazakh capital with the support of the government of Kazakhstan, the Institute of Economic Research of Kazakhstan and the Kazakh Fund of Economic Initiatives, and in cooperation with the National Bank of Kazakhstan, the International Monetary Fund (IMF) and the Bretton Woods Committee.

According to the organisers, Conference participants will discuss the complex transformation of the global economy and today’s many conflicting factors and new realities, including the macroeconomic effect of declining oil prices and its impact on global markets, a strong dollar and its impact on exchange rates in the world, the new norm of China’s qualitative growth, the identification of new growth drivers and the spillover effect from a slowdown in the Russian economy on the countries of Central Asia.

The conference will be divided into two main parts: growth identification and financial stability identification. Discussions will start аt a working luncheon entitled “Global Economy Review: Macroeconomic Effect of Falling Commodity Prices and its Importance for Growth,” with the participation of Yerbolat Dossayev, Minister of National Economy of Kazakhstan, and Nuriel Rubini, a famous economist who predicted the global financial and economic crisis, as well as David Shark, Deputy Director General of the World Trade Organisation.

At the plenary meeting on global economic changes and the unpredictability of the world economy it is planned to combine the visions of major players in the international arena, including China, Russia, the U.S., Europe and India, as well as the position of the fastestgrowing markets.

Prime Minister of Kazakhstan Karim Massimov, Former Senior Vice President and Chief Economist of the World Bank and Founder and Director of the Chinese Centre for Economic Research Justin Lin, Presidential Adviser of the Russian Federation Sergey Glazyev, Former Prime Minister of Italy Romano Prodi, Chairman of JP Morgan Chase International Corporation Jacob Frenkel and Former Minister of Finance and Minister of Foreign Affairs Yashwant Sinha (who is also a leading candidate for the post of president of the BRICS Bank), are expected to be speakers at the conference.

Additionally, during the conference, a session on new growth drivers will take place, bringing together chief economists and heads of global and regional development banks, including the World Bank, the Asian Development Bank, the European Bank for Reconstruction and Development, the Eurasian Development Bank, the European Investment Bank and the Export-Import Bank of China.

Discussions held in conjunction with the National Bank of Kazakhstan and the International Monetary Fund will conclude the conference, where issues of monetary policy and the impact of global processes on the development of the Central Asian region will be highlighted. A detailed programme and registration for the Conference is available on the official website of Astana Economic Forum at www.forum-astana.org.

The Astana Economic Forum, held annually in May at Astana’s Palace of Independence, aspires to be an active platform for discussing the most urgent issues of development in the global economy and the most important financial and monetary changes in the world.

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