Feb 15, 2013 Russia_Putin hopes G20 agrees new formula for calculating IMF quotas
Russian President Vladimir Putin on Friday held a meeting with G20 central bankers and finance ministers.
Opening the meeting, he said that Russia's priorities for G20 presidency will be stimulating investment, increasing transparency and ensuring effective regulation.
"It's absolutely clear that the situation in the world economy requires responsible and consolidated action from us. The times of local, isolated crises are over. Financial perturbations in a number of leading world powers have affected the global economy."
Vladimir Putin expressed hope that during the upcoming Russian summit the G20 will be able to agree proposals for a new formula for calculating IMF quotas.
"We will continue to deliver on our commitments to create a fairer and more risk-proof financial system. The decisions of the G20 summit in Seoul on the redistribution of IMF voting quotas need to be put into action."
Putin also said that Russia would pursue a conservative policy in public finances and that in recent years it has managed to achieve low inflation. He added that this tendency is set to carry on through the year, in the medium term and in the long term.
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