Overcoming Crisis

/KASE, November 6, 08/ - November 5, the President of Kazakhstan Nursultan Nazarbaev met Chairman of the Council of Financiers Association Serik Akhanov and Chairman of the National Bank of the Republic of Kazakhstan Anvar Saidenov. "During the meeting the head of the state noted that the global financial crisis continues, however, Kazakhstan economy must not stop - it must develop. Under such circumstances our country does its best to minimize repercussions of the global financial crisis on the Kazakhstan economy", - is said in the announcement of the press service of the President of the Republic released on Wednesday. A candidate of the Democratic Party Barack Obama won a staggering victory at the USA Presidential elections, receiving support of 333 electors at 270 needed votes. Obama's anti-crisis program comprises approval of a $175-200 bn. new package of measures to stimulate American economy. This package, in case approved by G. Bush leaving the White House, may be accepted before January, the Bloomberg agency informed. The new President of the United States stands for reformation of institutions regulating financial markets, and enlargement of authorities of the Federal Reserve supervising financial organizations. Obama proposed to organize a special commission responsible for detection of new risks to the economy - before such risks present difficulties. Hopes on the new president of the USA to take decisive steps to lead American economy out of recession triggered optimism among investors and growth of stock prices. Investors believe a change of the course will help to overcome current uncertainty in global economy. [2008-11-06]