4. June 2010. 10:00 - 18:00
Montenegro, Hotel Splendid
Organiser: EMG
Ekonom:east Media Group successfully organized the Second Annual Summit: Southeastern European Central Bankers and Ministers of Finance, today at Hotel Splendid in Becici, Montenegro.
The event was organized with the institutional support of the Central Bank of Montenegro and was opened by the Governor of the Central Bank of Montegro, Mr. Ljubisa Krgovic.
This regional event hosted ministers of finance and governors of central banks from five countries in the region, including Montenegro, Serbia, Bosnia & Herzegovina, Albania and FYRMacedonia, as well as the European Investment Bank.
Participants at the forum are to exchange experiences on revenues and expenditures of the budgets in times of crises, public expenditures, public debt, challenges of fiscal policy in crisis, road to EU “Greek scenario” and countries in the region, relations of fiscal and monetary policy after the recession.
Contact:
Jennifer Grubač
Radomir Jovović
Tel.: +381 (11) 33 33 009
Tel.: +381 (11) 33 33 032
e-mail: jennifer.grubac@emg.rs
e-mail: radomir.jovovic@emg.rs
Preliminary Program
June 4, 2010
10:00 - 12:00 Arrival of Participants and Registration
13:00 - 14:00 Networking Lunch
14:00 ‐ 14:15 Introductory remarks by the moderator
Milan Ćulibrk, Editor‐in‐Chief of the Ekonom:east magazine
14:15 ‐ 14:30 Opening remarks by Host Governor
Ljubiša Krgović Central Bank of Montenegro
14:30 - 16:00 Panel 1: Stricter Fiscal Policy-Under Conditions of Transition
Opening remarks: Igor Lukšić, Minister of Finance, Montenegro
Zoran Stavreski, Vice Prime Minister & Minister of Finance, Republic of Macedonia
Diana Dragutinović, Minister, Ministry of Finance, Serbia
Vjekoslav Bevanda, Minister, Federal Ministry of Finance of the Federation of Bosnia & Herzegovina
Aleksandar Džombić, Minister, Ministry of Finance, Republika Srpska
Fuad Kasumović, Deputy Minister, Ministry of Finance & Treasury, Bosnia & Herzegovina
Resmi Hibraj, Director of Borrowing, Ministry of of Finance Albania
Massimo Cingolani, Expert Economist, European Investment Bank
Goran Pekez, Corporate Affairs and Communications Director for Adriatic region, Japan Tobacco International
Discussion Topics:
- The State budget- realization for 2010 and plans for 2011
- Plans for how to carry out structural reforms in the public sector, pension and social security, etc… with a constrained budget
- Determining consolidated balance of public revenue and public spending-measures in place for stimulating economic growth
- System and policy of taxes, tariffs and other public revenue
- Public expenditure policy-challenges during a crisis
- The Greek scene and countries of the region
- The relation of fiscal and monetary policy after the recession
- Management of available public funds-what is available and how is it accessed?
- The path towards the EU-recommendations and suggestions
- Challenges of fiscal policy and economic recovery
- Budget deficit and means of financing it
- Public debt-measures for reducing it
16:00 ‐ 16:30 Networking Coffee Break
16:30 - 18:00 Panel 2: Managing currency – the ups and downs
Opening remarks: Ljubiša Krgović, Central Bank of Montenegro
Ardian Fullani, Governor of the Central Bank of Albania
Kemal Kozarić, Governor of the Central Bank of Bosnia & Herzegovina
Petar Goshev, Governor of the National Bank of the Republic of Macedonia
Radovan Jelašić, Governor of the National Bank of Serbia
Dejan Šoškić, Council Chairman of the National Bank of Serbia
Giancarlo Miranda, Vice President of the Executive Board, Banca Intesa
Discussion Topics:
- Influence of the global crisis on banking sectors in the region.
- Measures in place to revive the banking sector
- Policy for mandatory reserves of central banks from the region
- Monetary policy and the real sector
- Crisis and the exchange rate of national currencies
- Similarities and differences among banking sectors of countries in the region.
- Can measures taken by the Central Banks of some countries be replicated in other countries in the region?
- Strengthening regional cooperation among central banks of countries in the region.
- Effects of the Vienna Initiative
- Measures for strengthening competition in the banking sector
- How can cross-border regulatory structures be improved?
- Operating results of banks in the region for 2009, and their plans for 2010.
- What suggestions do commercial banks have for the central monetary authorities in the region?
- Significance of the Central Banks’ control function and risk management in commercial banks
- Supervision over insurance, the role of the Central Bank – for and against?
- The path towards the EU-recommendations and suggestions
- Euro or local currency-pro’s and con’s
- Institutional investments in local commercial banks-experiences and suggestions
19:00 - 22:00 Networking Dinner & Cocktail
Ljubiša Krgović |
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Ljubiša Krgović is the Governor of the Central Bank of Montenegro and Montenegro’s Governor for the International Monetary Fund. He was first appointed by parliament as Governor of the Central Bank on March 15, 2001 and was once again appointed to this position in May 2007.
Ljubiša Krgović was the president of the Securities Commission from 2000-2002, and deputy prime minister of the government of Montenegro for the financial system and public spending from 2000 to 2001. He was a member of the Monetary Council of the National Bank from 1999 to 2001, which was the forerunner of the Central Bank. Krgović was the vice-governor of the National Bank of Yugoslavia in Belgrade from 1995 to 1999. He also served as advisor to the President of the Government of Montenegro from 1992-1994. Governor Krgović graduated from the Faculty of Economics, University of Montenegro in 1980. In 1990, he earned a MA in International Economics at the University of Belgrade. He worked in research at the Institute of Economics, University of Montenegro from 1983-1991. Following this, he moved to the Employment Service of Montenegro, where he served as director from 1991-1992. Ljubiša Krgović speaks English and German. He has worked on several scientific, technical and investment projects at the Institute for Social and Economic Research. Governor Krgović is on the board of the National Parks of Montenegro. He is married to Ljiljana and is the father of four children.
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Kemal Kozarić |
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Kemal Kozarić was born on October 13, 1956 in Sarajevo, BH, where he completed his elementary and high school education. He graduated from the Faculty of Economics, Marketing Department Sarajevo in 1981. He successfully defended his Master thesis "Perspectives of the Monetary Policy Model of Bosnia and Herzegovina on the Path towards the European Union" in September 2006, which advanced him to the level of “Master” in Economics. At the same Faculty he defended his Doctoral Dissertation on the subject "Impact of Credit Growth on the Economic Development of Transitional Countries", and thereby he acquired the academic degree of the Ph.D. in Economics on February 11, 2009.
After completing his studies, he worked for 15 years in banking, and from 1996 until early 2000 he was the Minister of Finance in the Sarajevo Canton Government and after that he was appointed Vice Governor of the Central Bank of Bosnia and Herzegovina. Based on the Decision of the BH Presidency dated May 20, 2003, he was appointed member of the Governing Board of the CBBH and the BH Presidency also gave the consent that he could continue to perform his duties of the CBBH Vice-Governor. As of January 1, 2005, he assumed the duties of the Governor of the CBBH and Chairman of the CBBH Governing Board. He was re-appointed to the CBBH Governing Board by the Presidency of Bosnia and Herzegovina on June 10, 2009 and the Governing Board of the CBBH re-appointed him as Governor for a second mandate. In 2007 he was appointed to the chairman position of the BH Deposit Insurance Agency Governing Board. Since 2005, Kemal Kozarić, Ph.D., has delivered many lectures at various faculties and academic gatherings and presented a number of papers at conferences abroad and in the country. In this period he has published a number of texts on actual subjects from the banking area and on modern trends in economy of BH and the region, published in professional magazines. He received numerous awards, among which is the award for successful conducting of stable monetary policy and the award for contributing to maintaining the stability of the banking sector in Bosnia and Herzegovina. |
Radovan Jelašić |
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Radovan Jelašić was born in 1968 in Baya, Hungary. In 1992 he graduated from the Belgrade Faculty of Economics and went on to take a Master's degree in Business Finance at the University of Illinois, Chicago, USA. Jelasic began his banking career with the Deutsche Bank in Frankfurt, where he worked for four years as a Regional Manager for Central and Eastern Europe.
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Ardian Fullani |
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Ardian Fullani graduated from Faculty of Economy & Finance and from the Faculty of Law, University of Tirana, respectively in 1977 and 1991. He has extensive experience and in-depth knowledge of the banking sector in Albania and abroad. He started working at the State Bank of Albania in 1985 and in 1987 was appointed Deputy Director of the Foreign Department and worked in this capacity until 1990. From 1990-1992 he was Head of the Foreign Department at Albanian Commercial Bank. |
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Igor Lukšić |
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Zoran Stavreski |
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Zoran Stavreski, Vice Prime Minister and Minister of Finance of the Republic of Macedonia, was born on October 29, 1964. He received a BA in Economics in 1987 from Cyril and Methodious University, Faculty of Economics in Skoplje. He continued his education and in 1997 received a MA from Cyril and Methodious University, Faculty of Economics in Skoplje, with his thesis topic being Choice of Optimal Monetary Strategy and Instruments-Case of the Republic of Macedonia.
Zoran Stavreski began his career in 1993 at the Central Bank of the Republic of Macedonia as a researcher in the research directorate. In 1997 he was appointed to the position of director of the Central Banks research directorate. He held this position until 2000 when he moved to the Ministry of Finance of the Republic of Macedonia, where he held the position of undersecretary. In 2001 he became the advisor to the Executive Director in the Netherlands Constituency, a position he held until 2004 when he moved to the World Bank as a consultant in the Europe and Central Asia Poverty Reduction and Economic Management Unit. In February 2006, Zoran Stavreski moved to the position of Senior Economist for Operational Policy and Country Services Units at the World Bank. He held this position until August 2006 when he was elected to the position of Vice Prime Minister in charge of economic affairs. Zoran Stavreski speaks English and is married with one child. |
Diana Dragutinović |
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Diana Dragutinovic was born in Belgrade, 1958. She graduated from the Belgrade Faculty of Economics where she also received an MSc and a PhD and still lectures. |
Aleksandar Džombić |
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Aleksandar Džombić was born in 1968 in Banja Luka. He completed his elementary and secondary education as well as the Faculty of Economics in Banja Luka. He is currently working on his graduate studies at the Faculty of Management ECPD (European Center for Peace and Development) in Belgrade. |
Dragan Vrankić |
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Dragan Vrankić was born on January 23, 1955 in Čapljina, Bosnia & Herzegovina. He is a graduated economist. He began his career in 1981 when he worked as a commercial manager for Energoinvest. In 1992, he moved to the Municipality of Čapljina where is held the position of deputy head of financial and economic affairs.
He is also currently the governor of Bosnia & Herzegovina for the IMF, National IPA Coordinator and Chairman of the Coordination Committee of the IPA, Chairman of the Management Board of the Indirect Taxation Authority of Bosnia and Herzegovina, Member of the Management Board of the BiH Deposit Insurance Agency, and is also a member of the standing committee of senior representatives of the common successor states of the former Yugoslavia. |
Vjekoslav Bevanda |
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Vjekoslav Bevanda, minster of finance at the Federal Ministry of Finance was born on May 13, 1956 in Mostar. He earned a bachelor’s degree in Economics with a major in Finance from the Faculty of Economics on January 13, 1979. From 1979 to 1989 he worked with the Aircraft Industry SOKO Mostar, first as an Associate for investment funding and later as Head of payment services as well as Director of the Sector of Banking Issues, Director of Special Finance Service and as Director of the Internal Bank respectively.
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Dejan Šoškić |
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Dejan Šoškić (NBS Council chairman) was born in Belgrade in 1967. He graduated in 1989 from Belgrade University, Faculty of Economics, and obtained his MSc degree in 1993 and PhD degree in 1999 from the same Faculty. Currently he is a part-time professor at the Faculty of Economics in Belgrade. As a lecturer for graduate and MBA courses at the University of Nebraska, Omaha, Mr Šoškić taught financial markets and institutions, financial management and international business and economy. In 2002, he was a guest lecturer at universities of New Haven, Rhode Island and Berkeley, USA. He attended specialised financial market courses at US universities (in 1994, 1998 and 2002) and the Swiss National Bank (in 2001).
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Massimo Cingolani |
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Massimo Cingolani is Deputy Head of the Slovenia, Croatia and Western Balkans Division within the Directorat e for Lending in the European Union at the European Investment Bank. From 2001 until 2008 he was responsible for lending operations in the Czech Republic, Slovakia and Hungary and from 1995 to 2000 he was responsible for operations in Bulgaria.
Since 2006 he follows various activities linked to the EIB-Universities Research Action to channel the Bank’s institutional support to higher education and academic research. This included a STAREBEI program developed in cooperation with the University of Nice on: "The evolution of macro-financial aggregates in the new EU Member States and in Candidate Countries: a reading through the theory of monetary circuit" and an EIBURS programme incooperation with the Università degli Studi di Milano on “Public Investment under Budgetary Constraints in New Member States”. |
Resmi Hibraj |
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Resmi Hibraj is the Director of Borrowing at the Ministry of Finance of Albania, and oversees the domestic and foreign financing of the government needs. He is also a member of the Faculty of the University of Tirana.
In 2008, he returned to Albania, to join the Ministry of Finance and give his contribution in the restructuring and modernization of the Debt Management Department, as well as assist the Ministry in developing the domestic securities market and becoming an international debt markets player.
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See HERE how it was in 2009.
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Southeastern European Central Bankers and Ministers of Finance 4. June 2010.
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