Seminar over activities of financial organizations held in Russia

The Central Bank of Russia, the International Monetary Fund and the WorldBank held a seminar about activities of international financialorganizations about the development and promotion of standards and codes invarious economic sectors. Representatives of the Russian Finance Ministry,the Federal Securities Commission and the State Statistics Committeeparticipated in the seminar, the department of the Central Bank reportedto RosBusinessConsulting. The latest initiatives of the IMF and the World Bank concerning thedevelopment of data distribution standards, standards for evaluating thefinancial sector as well as codes of an appropriate way of ensuringtransparency of monetary and financial policies as well as in the tax andbudget spheres were introduced for a discussion at the seminar. FirstDeputy Chairman of the Central Bank Tatyana Paramonova took the floor andsaid that the preparation of sections of the report about the RussianFederation devoted to the above mentioned problems was almost completed. Inaddition, the process of checking the observance of regulation andsupervision standards within the program of evaluation of the financialsector of Russia has been started. Participants of the seminar made their proposals about ways of improvingvarious provisions of standards and codes and discussed the followingproblems: the usage of information by market participants, the observanceof international requirements by the country, the necessity of improvingthe way people get informed about activities of international financialorganizations in this or that sphere. .