President Gotsiridze will participate in the 13th annual meeting of the Central Bank Governors’ Club of Middle Asia, Balkan and Black Sea basin countries in St. Petersburg on May 27-28.The meeting will be focused on the following topics: “Role of the exchange rate in the formation of the monetary policy of the developing countries”, “Lessons of the transition period”. The discussion will be opened by Sergey Ignatyev, chairman of the Russian Central Bank. The leaders of the member central banks and international financial institutions will participate in the discussions. These topics will be discussed in the presentations of Lecek Balcerovic, president of the Naational Bank of Poland, and Malcolm Night, director general of the BIS. Besides participating in the discussions, president Gotsiridze will fix his position with regards to the illegal activities of the Russian commercial banks in Abkhazian banks. NBG President sent a special letter on this issue on May 16 to ask to take appropriate measures to correct the situation. “We are indignant at the fact that by entering the electronic settlements and correspondent account systems, a number of Russian commercial banks have been incorporating the Abkhazian banks into their systems. This contradicts with the decisions of the leaders of the CIS countries as well as with the Russian legislation, including the Regulation on Opening the Accounts for Non-residents”, the letter said. At the governors’ club meeting President Gotsiridze will address the Central Bank of Kyrgyzstan with the same criticism with regards to the illegal activities of some of Kyrgyz banks in the Abkhazian territory. The members of the Central Bank Governors’ Club of Middle Asia, Balkan and Black Sea basin countries: Georgia, Albania, Azerbaijani, Bosnia and Herzegovina, Bulgaria, Kazakhstan, Macedonia, Moldova, Russia, Romania, Serbia, Armenia, Greece, Kyrgyzstan, Tajikistan, Turkey, Ukraine.