The Soviet Unions first official observer at the Asian Development Bank (ADB) said he came away from this weeks ADB annual meeting with a favourable impression but that no decision has been made on whether the Soviet Union should join as a full member. Yurij V. Ponomarev international managing director of the State Bank said he will file a formal report when he returns to Moscow but it will not contain any recommendation on membership. We havent started any process with a view toward membership he said. Ponomarev downplayed the significance of his attendance saying it only signalled a slight change in attitude by Moscow. Although this is the first time Moscow has attended the ADBs annual meeting as an observer Soviet bankers have come to meetings in the past as guests he said. Delegates here saw the Soviet move as part of an overall strategy to strengthen ties with Asia and improve the functioning of the Soviet economy. Ponomarev declined to comment on remarks yesterday by a senior U.S. Official who warned that Soviet membership in the ADB would cause serious operational problems. How would the ADB for instance use the (Soviet) rouble as a basis for expanding its capital? asked the U.S. Official who declined to be identified. Ponomarev said: It is far too premature to speculate on the potential difficulties that might be involved if we applied for membership. In order to become a member Moscow would have to gain the backing of two-thirds of the board of governors representing three-quarters of the voting power of member countries. Washington has just over a 12 pct voting share.
SOVIET UNION UNDECIDED ON ADB MEMBERSHIP