SOURCE: Krull Corporation
October 08, 2008 18:09 ET
In Interview With Reuters, Dr. Alexander Mirtchev Warns Against Ramifications of Credit Squeeze on Emerging Markets
Says Plans to Stimulate the Economy Require a Comprehensive Approach and Government Funding Alone Will Not Be Enough to Stave Off the Crisis
WASHINGTON, DC--(Marketwire - October 8, 2008) - In an interview with Reuters, Dr. Alexander Mirtchev,
founder and chairman of the Krull
Corporation and an economic expert on emerging markets, shared concerns
about the impact of the credit squeeze on emerging market economies. As the
U.S. financial system continues to bear historic pressure, economies that
have experienced considerable growth in the past decade are in grave danger
of entering a prolonged period of slowing growth. While the central banks
in some nations are better equipped to deal with a liquidity squeeze,
dollar-based economies such as Korea, Russia and Kazakhstan will be faced
with serious challenges in the coming year.
Dr. Mirtchev, also the
chairman of Kazakhstan's national development fund, Kazyna, stressed the
need for involvement from the private sector to help prop the struggling
markets in emerging market economies. "The plan should be for the private
sector to get more involved in the process in order to balance the burden
and not to reward market mistakes. It is not realistic to expect just this
one platform to cushion the market from all problems," he said.
Kazyna was set up to help diversify the Kazakh economy -- one that has
traditionally been dominated by natural resources -- in addition to
sustaining surplus capital to deal with difficult economic times. "Kazyna,"
according to the interview, "will not be used to reward bad mistakes or bad
decisions made by financial institutions. The financial sector's malaise
cannot be realistically resolved just on the basis of government funding."
Governments across Europe and Asia have been intricately involved in
attempting to deal with this historic economic crisis and Dr. Mirtchev has
commented on the issue of bailouts in a discussion with Focus Washington's Chuck
Conconi. The interview can be viewed at www.youtube.com/focuswashington.
For more information, visit www.KrullCorp.com or contact Matt J.
Lauer at Qorvis Communications at email@example.com.
About Krull Corporation
Krull Corporation is a Washington,
D.C.-based advisory and project management firm with expertise in dealing
with economic growth, industrial expansion and restructuring issues.
Founded by Dr. Alexander Mirtchev in 1992, Krull Corporation capitalizes on his
extensive professional experience in market developments and reforms and
focuses primarily on emerging and transitional economies. Over the years,
the firm has provided its clients with outstanding strategic guidance and
professional services in various areas. Combining a unique blend of global
reach and understanding of local markets, Krull is able to consistently produce
high quality results and returns.