World Anti-Crisis Conference will take place in Astana on 22-24 May 2013

Under the auspices of the UN, the World Anti-crisis Conference (WAC) will take place in Astana on 23-24 May 2013. The idea of ​​the World Anti-Crisis conference was introduced by the President of the Republic of Kazakhstan, Nursultan Nazarbayev, and was supported by members of the “Dialogue of leaders” at the Vth  Astana Economic Forum. Political leaders, ministers of finance and economy, heads of central banks of the UN member countries, as well as business representatives and heads of international and financial organizations will discuss possible ways out of the global economic crisis and work on a draft of the UN World Anti-Crisis plan.

WAC events, 23rd May 2013

Panel session 1A DECADE OF REGULATION AND UNEMPLOYMENT IN THE EUROZONE: POLITICAL AND ECONOMIC DIMENSION

Questions for discussion: Should countries of Europe pursue the policy of austerity? What is the right balance between fiscal consolidation and growth? What are the political consequences? How faster economic growth may be achieved? Before the crisis of the Eurozone, besides single currency and fiscal constraints, institutional architecture of the European Monetary Union was minimalist: the management of economic and financial policy was firmly based on national competence. At the moment, the question is how to strengthen the architecture of the European Monetary Union? How can the transition to an effective and sustainable monetary union be achieved?

Panel session 2ASSESSMENT OF MONETARY POLICY AND IMPLICATIONS FOR THE GLOBAL FINANCIAL STABILITY

Questions for discussion: What is the effectiveness and possible risks of ‘non-standard’ monetary policy measures? Is the world in a state of severe “currency wars”? Is currency depreciation a current trend? Is there a reconfiguration of the role of monetary policy in the Western world? How significant is the concept of independence of Central Banks today? What will be the best exit from unconventional monetary measures for the US, UK and Japan? How will the rest of the world cope with external effects? How should central banks of developing countries respond to the developed countries’ strategy? Does the current drop in gold price impact upon the aggregate balance of the central banks of developed countries?

Panel session 3 GLOBAL CAPITAL MARKETS IN TRANSITION: CHANGES OF THE FINANCIAL LANDSCAPE

Questions for discussion: How will the global economic and financial landscape develop? Is there a trend of increasing disintermediation and an important role of capital markets in the global financial system? Will the global financial system ultimately become more important in the global economy? How to counter the risks of fragmentation and secondary re-nationalization of financial systems? There is a growth in emerging markets and the growing importance of capital markets with the development of local bond markets in local currency and the deepening of the financial sector. Will this trend continue?

WAC events, 24th May 2013

Round table 1– NEW WORLD FINANCIAL ARCHITECTURE

Problems caused by the crisis raised questions about the traditional foundations of global economic governance. How could the global economic governance be strengthened in the future?

Round table 2G20: ADAPTING TO NEW REALITIES OF THE WORLD ECONOMY (outreach event of the Russian Presidency of G20).

Under the presidency of Russia in the G20, a critical challenge is what the G20 could offer to help the global economic recovery. In this context, how could the G20 find solutions to change traditional views on investment flows and their impact on the growth of various economic centers of the world?

Round table 3 – RECOVERY OF GROWTH IN A MORE FRAGMENTED WORLD ECONOMY.

The crisis caused the process of the ‘great balance change in the global economy’.  Is there progress in the balance change of the key world economies: China, the U.S. and the Eurozone? Is this a cyclical or a structural process? Is the world economy deviating? What will be the end of this process?

Round table 4: ADOPTING RESOLUTIONS OF THE WORLD ANTI-CRISIS CONFERENCE

WAC speakers and participants: Nursultan Nazarbayev, President of Kazakhstan; Vuk Jeremic, President of the UN General Assembly; Wu Hongbo, Deputy Secretary General of the UN and the Head of the Department of Economic and Social Affairs; Supachai Panitchpakdi, Secretary-General of the UN Conference on Trade and Development (UNCTAD); political leaders (presidents, prime ministers), business representatives, heads of international organizations (World Bank, IMF).

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