DUSHANBE, April 2, 2010, Asia-Plus — The fourth session of the CIS council of finance ministers that took place in Moscow yesterday discussed joint efforts to mitigate effects of the global financial and economic crisis, Russian media report.
Russia’s news agency RIA Novosti reports Russian Vice-Premier also Minister of Finance Aleksey Kudrin said the session, in particular, considered the plan of measures to counter the crisis within the CIS area designed for 2009-2010. “We discussed implementation of the plan, especially after economic growth began, in terms of ensuring stabilization of financial systems,” Russian official said, noting that over the first two months of this year, economic growth has been reported in the majority of the CIS member nations.
Kudrin noted that favorable situation was emerging in the banking sector and increasing lending to the real sector of economy remained one of the main tasks.
For his part, the CIS Executive Secretary Sergey Lebedev noted that a draft agreement on information analytical and consultative cooperation between central banks of the CIS member nations had been worked out; he expressed hope that the agreement would be signed this month.
Besides, a decision on expanding machine-and-technical output delivery leasing has also been developed and this proposal is expected to be considered at a session of the CIS economic council that will take place in St. Petersburg on July 17 this year.
RBC (RosBusinessConsulting) reports the April 1 CIS finance ministers’ session also decided to intensify work of an expert group dealing with generalization of experience in use of national currencies in mutual trade between the CIS nations. This group has already held its first meet and will continue work in that direction, RBC reported.
“We are currently working to ensure that policy of out central banks, mutual accounting regime allow expanding use of national currencies,” Russian Finance Minister Kudrin told reporters following the session.
The next meeting of the council of the CIS finance ministers is expected to take place at the end of 2001 or in the beginning of 2011.
