CIS Finance Ministers to meet in Moscow

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.