(NSI News Source Info) MOSCOW - March 29, 2009: Russia is in fav
or of increasing the International Monetary Fund's kitty by $0.5-1 trillion and committing the organization to reform within 2-3 years, a Russian presidential aide said Saturday.
"The granting of funds should be linked to reforms," Arkady Dvorkovich told journalists.
He also suggested that the basket of the IMF payment unit SDR (Special Drawing Rights) be expanded by using the ruble, yuan and gold.
The statement comes ahead of a G20 summit, involving developed and emerging economies and international financial institutions, due to take place on April 2 to try to find ways to overcome the ongoing crisis and reform international financial structures.
Russia has submitted a proposal to the summit for the IMF to consider creating a supra-national reserve currency, a move that was supported by China, but dismissed by U.S. President Barack Obama as unnecessary.
Russia has also put forward suggestions on how international financial organizations should be reformed in the wake of the crisis, including steps to ensure the diversification of countries' foreign currency reserves to reduce the emphasis on the dollar.
Russian President Dmitry Medvedev will attend the summit of G20 leaders in London.
or of increasing the International Monetary Fund's kitty by $0.5-1 trillion and committing the organization to reform within 2-3 years, a Russian presidential aide said Saturday.
"The granting of funds should be linked to reforms," Arkady Dvorkovich told journalists.
He also suggested that the basket of the IMF payment unit SDR (Special Drawing Rights) be expanded by using the ruble, yuan and gold.
The statement comes ahead of a G20 summit, involving developed and emerging economies and international financial institutions, due to take place on April 2 to try to find ways to overcome the ongoing crisis and reform international financial structures.
Russia has submitted a proposal to the summit for the IMF to consider creating a supra-national reserve currency, a move that was supported by China, but dismissed by U.S. President Barack Obama as unnecessary.
Russia has also put forward suggestions on how international financial organizations should be reformed in the wake of the crisis, including steps to ensure the diversification of countries' foreign currency reserves to reduce the emphasis on the dollar.
Russian President Dmitry Medvedev will attend the summit of G20 leaders in London.
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