'Economic Volcano and Development Lighthouse: Eurasia in the Era of Global Turmoil'

Anastasia Likhacheva – Dean, Faculty of World Economy and International Affairs, HSE University (Russia)

Sergey Ulatov – Chief Economist, Eurasian Fund of Stabilization and Development

Igor Makarov – Head, School of World Economy, HSE University (Russia)

Over the past few decades, the global economic centre of gravity has shifted from the Euro-Atlantic to Eurasia, home to the world’s fastest-growing economies. While China, India, Central, Southeast, and West Asia leverage diverse growth models, they complement each other to drive powerful regional synergy. Multilateral initiatives—such as the SCO, EAEU, RCEP, and ASEAN—play a crucial role in aligning trade policies and laying the groundwork for a unified, mutually beneficial continental space. This session explores the strategies driving Eurasian economic resilience and growth and examines how nations can maximise benefits from deeper regional integration.

Main issues for discussion:

• How is the ongoing reconfiguration of the global economy reshaping Eurasian economies?
• How sustainable is Eurasia’s growth in an era of polycrisis and global volatility?
• Which regional cooperation mechanisms yield the highest return for economic development?

Moderator: Alexander Kurdin – Deputy Dean for research of the Faculty of Economics, Moscow State University (Russia)
Sergey Ulatov – Chief Economist, Eurasian Fund of Stabilization and Development 
Surender Kumar – Senior Professor of the Department of Economics, University of Delhi (India) 
Ali Çufadar – Director of the Macroeconomic Studies Programme, TEPAV (Turkey)
Aleksandr Zaytsev – Head of the International Economic Studies Section, Centre for Comprehensive European and International Studies, HSE University (Russia)
Nodira Abdunazarova – Chief Specialist of the Project on Macroeconomic Policy and Analysis, Institute of Macroeconomic and Regional Studies (Uzbekistan) 
Mariam Voskanyan – Chair of Economics and Finance, Russian–Armenian university (Armenia)

Connectivity is the lifeblood of the 21st-century economy, translating digital and physical networks into economic growth and resilience. While the centre of economic gravity moves from the Euro-Atlantic to Eurasia, the geography of logistical corridors lags behind this shift. It is clear that physical and digital connectivity is a necessary condition for creating an area of mutual development in Greater Eurasia. However, the optimal configuration of logistics and digital infrastructure in the region is not yet defined. Even less defined are the ways to finance this infrastructure, especially given geopolitical fragmentation and the fears of many countries in the region regarding overdependence on specific sources of funding. This session explores potential pathways for developing Eurasia's new logistical and digital backbone and discusses how it can be supported through multilateral efforts.

Main issues for discussion:

• What are the primary objectives of Eurasian economies regarding the development of new logistical and digital infrastructure?
• Which transport and logistical corridors best align with the strategic goals of most countries in the region?
• Are existing multilateral regional institutions sufficient to create Eurasia’s new logistical and digital backbone?

Moderator: Natalya Ivanova – Academician, Chief Researcher, Institute of World Economy and International Relations, RAS (Russia)

Dou Ding – Professor of the School of International Studies, Peking University (China)

Arthur Arakelyan – Head of Transport and Communications, Eurasian Fund of Stabilization and Development 

Alexei Bezborodov – Associate Professor of the School of World Economy, HSE (Russia)

Kubatbek Rakhimov – Executive Director, Applicata Centre for Strategic Solutions (Kyrgyzstan)

Laura Kuanova – associate professor of Finance and Accounting Department, Al-Farabi Kazakh National University (Kazakhstan)

Mayank Sharma – Engagement Lead of the International Cooperation Team, Council on Energy, Environment, and Water (India)

Macrofinancial stability is the foundational cornerstone of resilient economic growth in the age of global debt crisis, economic and geopolitical volatility, and the fragmentation of traditional international financial architectures. For Eurasian economies, it creates especially important dilemmas. On the one hand, expansion of capital-intensive infrastructure and addressing important developmental challenges require the mobilisation of immense financial resources; on the other hand, this should be done without fiscal overextension and unsustainable debt accumulation. For Eurasia, achieving a balance between rapid development and macroeconomic health is not just a domestic priority, but a condition for regional economic sovereignty. This session examines strategies for mitigating macrofinancial risks and explores innovative, multilateral financial instruments capable of supporting Eurasia’s growth without compromising its financial stability.

Main issues for discussion:

• What is the current state of sovereign debt across the Eurasian region?
• What lessons in balancing economic growth with macroeconomic stability can Eurasian nations offer to the rest of the world?
• How can regional multilateral initiatives drive economic development without compromising macrofinancial stability?

Moderator: Alexandra Morozkina – Senior Expert, Eurasian Fund of Stabilization and Development 
Leonid Grigoryev – Academic Supervisor of the School of World Economy, HSE University (Russia)
Natalya Lavrova – Head of the Systemic Economic Monitoring Mission, Eurasian Fund of Stabilization and Development 
Anastasia Podrugina – Associate Professor of the School of World Economy, HSE University (Russia)
Aleksey Ponomarenko – Professor of the Joint Department with the Bank of Russia, HSE University (Russia)
Marcel Salikhov – President, Institute for Economy and Finance (Russia)
Kazi Sohag – Head of the Center for Econometrics and Business Analytics, Saint Petersburg State University  (Russia)

The Sustainable Development Goals (SDGs) were established by the UN General Assembly for the 2030 Agenda as a set of global public goods representing the priorities of all humanity. However, the international community is falling short of these goals, with only 17% of SDG targets currently on track. Historically, Eurasian economies have focused primarily on their own internal development challenges rather than global development leadership. Yet, as Eurasian nations transform into the core drivers of global economic and political processes, they can no longer remain on the sidelines of global challenges. Given current demographic and economic trends, this region will largely define the future of the world. Consequently, Eurasian economies are expected to play an active role in shaping new approaches to sustainable development governance. This session explores these new governance models and discusses how the economic growth strategies of Eurasian nations can serve as a blueprint for sustainable development across the rest of the world.

Main issues for discussion:

• What are the root causes behind the current failure to implement the SDG framework?
• What governance reforms in sustainable development are needed to ensure that the post-2030 agenda will be more effective?
• What lessons from the Eurasian economies’ development model can guide the reconfiguration of the global sustainable development agenda after 2030?

Moderator: Maxim Titov – Lead Consultant for Climate Finance, Eurasian Fund of Stabilization and Development
Igor Makarov – Head, School of World Economy, HSE (Russia)
Anton Sviridenko – Director, Stolypin Institute for the Economy of Growth (Russia)
Jia Yu – Director of the International Development Cooperation Department, Institute of New Structural Economics, Peking University (China)
Ekaterina Makarova – Head of the Center for Sustainable Business Practices, Institute for the Economics of Natural Resources and Climate Change, HSE University (Russia)
Sergey Chepel – Head of the Project on Macroeconomic Policy and Analysis, Institute of Macroeconomic and Regional Studies (Uzbekistan) 
Shuva Raha – Head of New Initiatives, Council on Energy, Environment, and Water (India)