28th International Financial Congress opens in St. Petersburg
This year, the International Financial Congress (IFC) is focused on the subject ‘Financial Markets: Increasing Complexity, Maintaining Stability’.
On 4 July, the conference programme will begin with opening remarks by Elvira Nabiullina, Governor of the Bank of Russia. The plenary session is expected to highlight recent developments in global financial markets and their impact on central bank policies.
During Day 1 sessions, participants will discuss the interrelation between monetary and macroprudential policies, new financial arrangements in residential property construction and support for entrepreneurs, communication policy as a monetary policy tool, digital transformation and cyber risks, as well as other issues.
Among participants are renowned experts such as Muhammad Yunus, Professor of Economics from Bangladesh and Nobel Peace Prize Laureate, Stephen Cecchetti, Professor of International Economics at Brandeis International Business School, Marc Uzan, Executive Director, the Reinventing Bretton Woods Committee, and Michael Ehrmann, Head of the Monetary Policy Research Division of the European Central Bank.
During the plenary session on Day 2, the regulator and market players will discuss ways to foster corporate culture through such tools as self-regulation, ethical standards, and conduct supervision.
On the pre-conference day, 3 July, the IFC will host the 17th International Insurance Conference, while the Bank of Russia will play host to an international economic research conference titled ‘Macroprudential Policy Effectiveness: Theory and Practice.’ The conference will focus on new research in ensuring financial stability and the effectiveness of macroprudential policy. The speakers will address a number of issues including the cyclicality of commodity markets, financial instability in emerging economies, and the search for uncertainty-resistant macroprudential policies. Economists from the European Central Bank and central banks from around the world, as well as experts from the IMF and applied research institutions such as Columbia University and London Business School are expected to contribute to the discussion.
Prior to the conference, on 2 July, the Bank of Russia organised the event ‘Summer Macroeconomic School’ — a course in modern macroeconomic theory for postgraduate students and young university teachers. It included an awards ceremony for a student research competition held by the Bank of Russia and the Russian Journal of Money and Finance. The winners received their certificates from Ksenia Yudaeva, First Deputy Governor of the Bank of Russia.