Topic: G20 and G8 summits in Canada
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- Medvedev calls for contacts with all sides of Middle East conflict
- U.S., French, Russian leaders issue joint statement on Nagorno-Karabakh
Russia called on the participants at the G8 summit to consider the creation of a new international monetary control system, which could help prevent further crises, an aide to Russian President Dmitry Medvedev said.
Arkady Dvorkovich told journalists on Saturday that the introduction of additional reserve currencies would be the best measure that could assure global financial stability. Another possible step is increasing the role of Special Drawing Rights, a "quasi currency," which the International Monetary Fund allocates to nations allowing them to increase their foreign exchange reserves without money being borrowed or lent.
Besides this, Dvorkovich said, nations should discuss their monetary policies with each other. Such consultations could "increase the stability of the international currency system" and become a "serious element" of a new financial control system, he said.
According to Dvorkovich, French president Nicolas Sarkozy said during the talks that countries should prevent attacks on national currencies, but made no concrete proposals.
The Russian president's aid said the issue would be raised during the G20 summit in Toronto on Sunday.
HUNTSVILLE (CANADA), June 27 (RIA Novosti)
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One of the main achievements of the 6th BRICS Summit was the signing of an official document on establishing a New Development Bank with a declared capital of $100 billion. The creation of the bank is an important step towards institutionalizing BRICS and strengthening its positions in the world in the long run.