DECISION OF ECONOMIC COUNCIL OF COMMONWEALTH OF INDEPENDENT STATES

of December 12, 2008

About offers of the State Parties of the CIS on overcoming negative effects of the global financial crisis

The economic council of the Commonwealth of Independent States solved:

1. Take into consideration the generalized offers of the State Parties of the CIS on overcoming negative effects of the global financial crisis.

2. To send to executive committee of the CIS the specified offers specified taking into account the taken place discussion to the governments of the State Parties of the CIS for use in work, and also to submit them for consideration of the regular meeting of permanent meeting of Ministers of Finance of the State Parties of the CIS created by the Decision of Council of heads of states of the CIS of October 10, 2008.

3. Recommend to bodies of industry cooperation to provide in the financial and social and economic sphere in work plans development of measures for minimization of negative effects of the global financial crisis.

Offers of the State Parties of the CIS on overcoming negative effects of the global financial crisis

INTRODUCTION

Strengthening of crisis tendencies in world financial system for the last one and a half years led to change of external and internal operating conditions of economy of the State Parties of the CIS. One and all states suffered negative effects of destabilization of the world stock and goods markets. At the national level operational measures for stabilization of situation were taken.

Despite the existing distinctions in scales and nature of problems which regulating authorities of the State Parties of the CIS in the conditions of instability in world economy, and also regulating and financial opportunities of opposition to negative tendencies face high mutual integration of economy of the Commonwealth requires coordination of efforts of the governments and Central Banks in the course of minimization of negative effects of crisis for economic situation of his participants.

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