President Nazarbayev offers ambitious proposals at Astana Economic Forum

    On May 25 and 26, Astana hosted the annual Astana Economic Forum on May 25 and 26.
    World renowned experts, politicians, the heads of financial institutions and international organizations are now in attendance. Also present are several Nobel Prize winners and scientists.
    The events main theme is: The New Economic Reality: Diversification, Innovation and the Knowledge Economy.
    Several sessions have been devoted to the development of the financial and banking sector, monetary policy and a possible return to a capital control regime, the forum’s website says.
    President Nursultan Nazarbayev proposed a number of global initiatives during the forum.
    He suggested establishing a Human Capital Development Fund under the aegis of the UN to improve the quality of education and healthcare in the poorest countries.
    “Today, according to experts, between $30 trillion and $40 trillion is being kept on offshore accounts. Th eintroduction of an at least one-percent global tax on those assets would make it possible to improve education and healthcare in developing countries to a qualitatively new level,” a presidential press release quoted Nazarbayev as saying.
    “Money from this tax could be directed to the above-mentioned Human Capital Development Fund. I do believe the International Monetary Fund and the World Bank must step up with effective measures to de-offshorize the global economy.”
    Nazarbayev also suggested a roadmap for the development of a green economy and the rational use of natural resources.
    “It (the roadmap) should not only provide for a reduction in harmful emissions into the atmosphere, but also measures to preserve the soil, freshwater, and the biosphere. At the same time, not only states but also global corporations must assume obligations [to do so],” he said, accoding to the Times of Central Asia.