Academy of People's Economy (ANKh), the leading educational institution for higher managers in Russia, announced a series of seminars devoted to Y2K problem. The first of these seminars has also took place and concerned the social and economic aspects of the problem. According to ANKh rector Abel Aganbegyan, it was charged to arrange such series of seminars by Vice Premier Minister Vladimir Bulgak. The leading experts from both domestic and foreign companies, including IBM, SUN, Lotus, Microsoft, and others, will be invited to take part in the program.

The seminars will summarize the experience on solving the Year 2000 problem and highlight the significance of the problem to higher officials of Russian businesses and organizations. According to estimates done by Western experts, the millennium bug may cause up to 70% errors in banking databases while issuing credits, etc. Failures in local power supply networks are also likely to happen. Moreover, A. Aganbegyan warns that up to 5% of businesses may be bankrupted due to malfunctioning of their computer software.

Source: InfoArt News Agency

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