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To: goldsnow who wrote (14429)	7/12/1998 10:00:00 PM
From: goldsnow	Read Replies (1) \| Respond to of 116764

World's Central Bankers Gather In Tokyo Today For Bis Talks World's Central Bankers Gather in Tokyo Today for BIS Talks Tokyo, July 13 (Bloomberg) -- U.S. Federal Reserve Chairman Alan Greenspan and central bankers from about 30 nations are in Tokyo today to discuss international monetary and financial cooperation at a meeting of the Bank for International Settlements. The meeting of the BIS, a ''central-bankers' bank'' based in Basel, Switzerland, that sets international guidelines for lenders to follow, comes as top financial officials from Russia and Indonesia converge on Tokyo to talk with Japanese government and private-sector officials about new loan commitments to their countries. Russia's talks yesterday with the International Monetary Fund for a loan of as much as $15 billion to bolster reserves and avoid a ruble devaluation ended ''successfully,'' a Russian government spokesman said. Government and IMF officials are expected to hold a press conference later today, said Andrei Trapeznikov, a spokesman for Anatoly Chubais, Russia's lead negotiator with the IMF. Indonesian finance and banking officials are also in Tokyo to meet with lenders today as part of a ''roadshow'' aimed at convincing international creditors to roll over $8.5 billion in private-sector debt. That plan would swap foreign debt owned by Indonesian banks for new loans due in one to four years. Ginandjar Kartasasmita, the country's coordinating minister for economic supervision, heads the Indonesian delegation. Indonesia also expects the IMF this week to approve another $1 billion loan payment to the economically troubled Southeast Asian nation this week, Ginandjar said Friday in Washington. Indonesia needs additional funds beyond the $43 billion already pledged to help stabilize its economy. Today's Itinerary Greenspan and Bank of Tokyo Gov. Masaru Hayami began talks today at 7:55 a.m. local time, before the monthly BIS meeting starts. The BIS gathering will be the first to be held in Tokyo. The meeting, to be held at 10 a.m. at the Bank of Japan, will be attended by central bank officials from the Group of 10 nations, as well as representatives from Asian lenders that are not BIS members. Also attending will be Willem Duisenberg, president of the European Central bank. The primary topic of discussion will be ''Asia's policy challenges,'' according to a BIS memo obtained by Bloomberg News. Following a luncheon at 12:30 p.m., the BIS board of directors will meet at 2:30 p.m. Governors of the G-10 nations will gather at 2:45 p.m. to choose a new chairman for the Committee on Payments and Committee on Payments and Settlements Systems. At the same meeting, the committee will issue a report on foreign exchange settlement risk. Also, Bank of England Deputy Gov. David Clementi will present a report on recent rises in equity prices, according to the BIS memo. Alfons Verplaetse, president of the BIS and governor of Belgium's central bank, Andrew Crockett, BIS general manager, and the Bank of Japan's Hayami will hold a press conference after the meeting. A cocktail party and dinner will be held starting at 7 p.m. at the Hotel Okura in Tokyo. Tomorrow in Tokyo, central bankers from 11 Asia-Pacific countries, including Australia, China, Indonesia, Japan and Korea, will hold a meeting. The BIS, founded in 1930, opened a representative office for Asia and the Pacific in Hong Kong on Friday.