Vedomosti Sets an All-Time Record

The Vedomosti-sponsored conference “Capital Markets: Russia and the Global Financial Crisis” held on October 1 became a lead story in major media broadcasts and publications. The conference owed its success to the timeliness of the theme and the participation of a record number of high-ranking officials who are directly responsible for Russia’s economic development.

Deputy Prime Minister and Minister of Finance Alexei Kudrin gave the opening remarks at the conference. Other speakers included Central Bank first deputy chairman Alexei Ulyukayev, head of the Federal Financial Markets Service Vladimir Milovidov, top presidential economic aide Arkady Dvorkovich, MDM Bank chairman Oleg Vyugin, CEOs of the RTS and MICEX stock exchanges, and many others.

Finance Minister Kudrin set the tone of the event when he declared that the global economy is on the brink of a recession, and that a resumption of Russia’s growth could not be hoped for sooner than 2010. He stated that Russia’s economic growth in 2009 would be the lowest of the last ten years, and estimated that the gross national product would grow by 5.7 percent. More details from the finance minister’s speech can be found on the Vedomosti website.

This was Vedomosti’s fourth annual conference dedicated to Russian and global capital markets, and the interest shown in the forum by market regulators and leading market players has been increasing each year.