CIS FINANCE MINISTERS TO MEET IN MOSCOW

PanARMENIAN.Net
26.03.2009 19:37 GMT+04:00

/PanARMENIAN.Net/ On Mar. 31, 2009 RF Reception House in Moscow will
host the Permanent Council of CIS Finance Ministers. Finance Ministers
will focus on CIS Member States’ social and economic issues and steps
to overcome financial crisis consequences. The parties plan to agree
on joint position of CIS Member states at Group of Twenty Summit due
on Apr. 2 in London.

Permanent Council of CIS Finance Ministers was formed under the
resolution of CIS Member States’ Presidential Council on Oct. 10, 2008
to examine crisis situation and develop anti- crisis measures. The
first sitting of Permanent Council of CIS Finance Ministers was held
on Oct.21.

On the initiative CIS Member States’ Presidential Council, suggestions
on overcoming financial crisis consequences were submitted to
Intergovernmental Monetary Committee, as well as CIS Economic Council.

CIS States have established a permanent cooperation to exchange
opinions on the issue. The following steps were already undertaken:
support to financial and banking systems, administration of safety
guarantees for bank deposits, widening possibilities of national
currency use in trade relations, financial assistance to major
organizations, support in economy sphere and prevention of mass
unemployment.

Despite existing complications, no program initiated in CIS has
been suspended, which proves that CIS Member States are possessed of
extensive means to overcome financial crisis consequences.