WEDNESDAY, MAY 27, 1998

Opening Ceremonies

Declaration by Mr. Marat Sultanov, Chairman, National Bank of the Kyrgyz Republic

Address by His Excellency, Askar Akaev, President, Kyrgyz Republic

Address by Mr. Michel Camdessus, Managing Director and Chairman of the Executive Board, International Monetary Fund

Address by Mr. Hans Meyer, Chairman of the Governing Board, Swiss National Bank

Session I

Prospects and Challenges of Financial Systems in Transition Economies

Chairman: Mr. Marat Sultanov

Speaker: Mr. Oraz Jandosov, First Deputy Prime Minister, Republic of Kazakhstan

Discussants: Mr. Boris Fedorov, Deputy, State Duma, Russian Federation

Mr. Lajos Bokros, Director, Private Sector and Financial Sector Development Unit, Europe and Central Asia, World Bank

Monetary and Exchange Rate Policy in Economies with Newly Independent Currencies: Lessons from Recent History

Chairman: Mr. John Odling-Smee, Director, European II Department, IMF

Speaker: Mr. Leonid Talmaci, Governor, National Bank of Moldova

Discussants: Mr. Warren Coats, Advisor, Monetary and Exchange Affairs Department, IMF

Mr. Ulan Sarbanov, Board Member, National Bank of the Kyrgyz Republic

From Stabilization to Growth: Foreign Financing and Debt Sustainability

Chairman: Mr. Talaybek Koychumanov, Minister of Finance, Kyrgyz Republic

Speaker: Professor Paul Wachtel, Stern School of Business, New York University

Discussants: Mr. John Odling-Smee

Mr. Grigori Marchenko, President, Deutsche Securities, Kazakhstan

Session IV

Stabilization and Reform: Experience of Five Central Asian States

Chairman: Mr. Bagrat Asatryan, President of the Association of Banks of Armenia

Speaker: Professor Michael Kaser, Universities of Birmingham and Oxford, United Kingdom

Discussants: Mr. Emil Abdumanapov, Deputy Chairman, National Bank of the Kyrgyz Republic

Mr. Peter Keller Assistant Director, European II Department, IMF

Governance Issues During the Transition

Chairman: Mr. Peter Wienand, Ambassador of Germany to the Kyrgyz Republic

Speaker: Mr. George Abed, Senior Advisor, Fiscal Affairs Department, IMF

Discussants: Mr. Thanos Catsambas, Deputy Chief of Eastern Division, European II Department, IMF

Mr. Omar Sultanov, Head of President's Administration, Kyrgyz Republic

Social Policy and Income Distribution During the Transition

Chairman: Ms. Anna-Kristina Stjanerklint, Resident Representative, United Nations Development Program

Speaker: Mr. Branko Milanovic, Principal Economist, Research Department, World Bank

Discussants: Mr. Marek Dabrowski, Vice-Chairman, Center for Social and Economic Research (Poland)

Mr. Thomas Crouch, Manager of Division 3, Programs Department (East), Asian Development Bank

Foreign Investment During the Transition: How to Attract It, How to Make the Best Use of It

Chairman: Mr. Nikolay Hadjiyski, Resident Representative, European Bank for Reconstruction and Development

Speaker: Mr. Urkaly Isayev, Director, Foreign Investment Agency, Kyrgyz Republic

Discussants: Mr. Michael Rathnam, Resident Representative, World Bank Group

Mr. Koji Tsunokawa, Deputy Managing Director, Operations Department III, Overseas Economic Cooperation Fund (Japan)

Chairman: Mr. Kubanychbek Jumaliev, Prime Minister, Kyrgyz Republic

Press Conference