State Debt Committee
of the City of Moscow

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Regions and Cities of Russia: Borrowing as an Instrument of Economic Policy (17th May 2004) (permalink )

The 4th Annual Conference "Borrowing as an Instrument of Economic Policy" was held in "Renaissance Moscow" Hotel on 17th May 2004.

The Conference is held on an annual basis (up to 2004 it was named "Regions and Citie of Russia: Prospects and Opportunities for Debt Origination") and remains the only all-Russian forum on subfederal and municipal borrowings and state debt management of Russian regions and municipalities.

Traditionally, at the conference were discussed the following key issues:

• ·                         Legal aspects of internal and external borrowings by subjects of the Russian Federation and municipal entities;
• ·                         Theory and practice of regional and municipal bond issuance;
• ·                         Current conditions of sub-federal bond market and perspectives of its development;
• ·                         Theory and practice of debt management of a subject of the Russian Federation and a municipality;
• ·                         Professional activity of the security market participants' in origination of regional bonds, development of sub-federal and municipal bond market infrastructure.

The objective of the Conference is to discuss the aspects of sub-federal bond issuance, current conditions and perspectives of sub-federal and municipal bond market, legal issues of domestic and external borrowing, debt management of Federal subjects and municipalities.

At the 2004 Conference were discussed

• ·                         The influence of the budget reform in the Russian Federation on forming of the revenue and expenditure of regional and local budgets and the mechanism for providing the balance between budget revenue and expenditure.
• ·                         Theory, practice and prospects of debt management effected by regions and muncicipalities in the Russian Federation. The regions' economic development, investment policy and budget reforms.
• ·                         The problems related to regional and municipal bond issuance, development of sub-federal and municipal bond market infrastructure and the role of professional capital market participants in solving these problems.

The conference was attended by over 480 delegates, including representatives of legislative and executive authorities of the Russian Federation, members of the City of Moscow Government, heads of financial authorities of regional and municipal administrations, representatives of the leading international and Russian investment companies and banks, foreign and Russian journalists (over 70 journalists from information agencies, magazines, newspapers and TV). 49 subjects of the Russian Federation and the Kyrgyz Republic sent their representatives to take part in this event.

The annual conference "Regions and Cities of Russia: Borrowing as an Instrument of Economic Policy" remains the only all-Russian forum on subfederal and municipal borrowings and state debt management.

The Programme of the Conference is below, together with those presentations which were made in English. Presentations in Russian can be found in the appropriate section of the Russian version of this web-site.

RCRConf17052004_Agenda (13.45 KB)

RCRConf17052004_Panel1_UBS (788.94 KB)

RCRConf17052004_Panel2_Moodys (188.98 KB)

RCRConf17052004_Plenary_Bank of Russia (81.85 KB)