The first day of the VTB Capital Investment Forum in New York, started with a plenary session "The monetary policy of emerging markets in new global reality", where speeches were made by Tito Cordella, Deputy Chief Economist for Latin America of the World Bank; Abdullah Yavaz, Member of the Board of the Central Bank of Turkey; and Blaise Antin, managing director of investment and financial services company TSW. The moderator of the session was Yuri Soloviev, First Deputy President and Chairman of the Management Board of VTB Bank, Chairman of VTB Capital holding companies Board of Directors.
During the plenary session experts discussed: the prospects of the Russian and global economy; issues of monetary and macroprudential policy; and the existing instruments and objectives of central banks. They also answered questions posed by Forum participants.
A further panel session on “Russia’s long term fiscal outlook” was held on the opening day, dedicated to the strategic priorities of Russia’s economic and infrastructural development, budget deficits and adjustment of the pension system, as well as other relevant topics.
The participants of the session were: Alexei Kudrin, the Dean of the Faculty of Liberal Arts and Sciences, St. Petersburg State University; Russia's Finance Minister (2000-2011) and Laurence Kotlikoff, an American economist and professor at Boston University. The session was moderated by Alexei Moiseev, Russian Deputy Minister of Finance.
Alexei Yakovitsky, Global CEO at VTB Capital, said: "During the first day the Forum participants showed great interest in the issues discussed at the sessions. We are pleased that we have managed to create a formidable platform for the discussion of key issues of modern financial markets and continue the dialogue initiated last year between Russian business and Western investors."
Head of Press