World Bank team delivers a lecture on "Recent developments in global commodity and financial markets and new growth agenda" for the Institute of economy and management of Turkmenistan

Contacts: 

In Washington: Robert R. Taliercio
Tel: +1-202-458-9659
Email: rtaliercio@worldbank.org 

In Ashgabat:  Serdar Jepbarov
Tel: +993-12-350477
Email: sdjepbarov@worldbank.org

Ashgabat, September 30, 2008 – On September 30, 2008, the World Bank economic team delivered a lecture for faculty members and students of the Institute of Economy and Management of Turkmenistan on recent developments in world economy and new growth agenda based on recently issued Growth Commission findings.

Around 50 faculty members and students of the Institute of Economy and Management attended this lecture and following discussion organized in partnership and with support of the Ministry of Finance and Ministry of Education of Turkmenistan.

The main objectives of the event were (i) to discuss recent developments in global commodity and financial markets; (ii) to present findings of the recent reports of the Commission on Growth and Development.

Main presentations delivered during the lecture covered areas such as developments in global food, energy and financial markets with emphasis on economic implications for Turkmenistan and role and recommendations of the World Bank in resolving these global issues; findings of the Growth Commission work.

Though Turkmenistan is greatly benefiting from increased prices of hydrocarbon resources, global food price surge and turmoil in international financial markets pose some challenges for macroeconomic management and efforts of the Government to improve living standards of the population. This lecture allowed to faculty and students of the Institute to discuss these issues in a greater detail with economic team of the World Bank. 

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Turkmenistan signed the Articles of Agreement of the World Bank Group on September 22, 1992. The first Country Assistance Strategy (CAS) for Turkmenistan was presented to the World Bank’s Board on May 27, 1997. In 1996, the Bank established a Liaison Office in Ashgabat to enhance communications with the government and to provide operational support. Currently, the World Bank Group is developing an Interim Strategy Note for Turkmenistan for the period of 2008-2010. The Interim Strategy will include activities that to support the efforts of the Government in the reform process to improve the living standards of Turkmenistan population.

The presentation delivered during the event is available for downloading here (in Russian)