October 08, 2008 18:09 ET In Interview With Reuters, Dr. Alexander Mirtchev Warns Against Ramifications of Credit Squeeze on Emerging Markets

WASHINGTON, DC--(Marketwire - October 8, 2008) - In an interview with Reuters, 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