Wednesday, July 3 2019 13:09

ArmInfo. Chairman of the Central Bank of Armenia Artur Javadyan left for St. Petersburg for a working visit on July 3-5 to participate at the XXVIII International  Financial Congress "Financial Markets: Increasing Complexity,  Maintaining Sustainability." The organizers are the Bank of Russia  and the Roscongress Foundation.

The CBA press service told ArmInfo that the Congress will discuss the  effectiveness of the macro- prudential policy, its interaction with  monetary policy, managing inflation expectations, the role of  communications in conducting monetary policy, the market of  investment funds, development strategies of the insurance industry,  modern financial technologies, cyber risks in the financial sector,  legislation to combat money laundering and the financing of  terrorism, etc.

Within the framework of the Congress, the Central Banks of Armenia  and the Russian Federation are also planning to sign a new agreement  on cooperation and information exchange in the field of supervision.  In addition, during the visit, a number of bilateral meetings with  the heads of partner structures are planned.

To note, Governor of the Bank of Russia Elvira Nabiullina will  address the Congress opening event. The business programme will kick  off with the 'Central Bank's Policy Design: Pursuing Multiple  Objectives in Times of Increasing Market Complexity and Risk Variety'  plenary session, which will focus on the work of central banks in an  era of high global market volatility. Governor of the Bank of Russia  Elvira Nabiullina, Head of the Monetary and Economic Department of  BIS Claudio Borio, Director of the MPA Program in Economic Policy  Management at Columbia University's School of International and  Public Affairs Patricia Mosser, and Economics Professor at London  Business School Richard Portes will all participate in the  discussion. Senior Executive Editor for Economics at Bloomberg News  Stephanie Flanders will moderate the session. Session participants  will discuss how regulators in emerging market countries should  combine monetary and financial stability policies and the features of  these policies.  The Congress business programme has been divided  into several areas which include: 'Macroeconomics and Monetary  Policy', 'Banks', 'Finance Market Professionals', 'Microfinance',  'The Insurance Market', and 'Collective Investments: Main Challenges  and Areas of Growth'.  Executive Director of the Reinventing Bretton  Woods Committee Mark Uzan, Laureate of the 2006 Nobel Peace Prize  Muhammad Yunus, Professor of Brandeis International Business School  Stephen Cecchetti, and representatives of EAEU central banks, the  European Central Bank, the central banks of European countries, and  major Russian financial institutions.

To recall, the International Financial Congress (IFC) is an annual  conference dedicated to the financial industry. The event  traditionally gathers heads of central and commercial banks,  financial institutions, international financial organizations,  regulators, academics and businessmen, and well-known experts from  around the world. Since 1992 the Congress has been held in St.  Petersburg. Until 2016 it was called International Banking Congress  (IBC). Sessions of the Congress are held in the form of interactive  discussions, during which the most pressing issues of the development  of the global banking and financial system are discussed.