/ world today news/ Mexico handed over the credentials of the chairman of the G-20 to Russia. The country will hold this post for one year. During this time, Russia will try to find practical solutions for the recovery of the world economy.
From December 1, when the status of chairman officially passes to the country, President Vladimir Putin will make a video address to the members of the G-20. In 2013, Russia will hold a meeting of the “20” for the first time. The priorities of the new chairman are already known – the stimulation of investment activity and the search for new sources of investment, assistance in the fight against unemployment, improvement of the work of the International Monetary Fund. The “Group of Twenty” is unofficial, but it is the most influential in the world. It is an alliance of 20 major economies (19 countries and the EU) and represents 90% of world GDP. According to Alexander Abramov, professor of the stock market and investment market department of the Higher School of Economics, the role of the G-20 meetings is increasingly strengthened:
– The “Twenty” gives tasks to the big financial organizations. For example, the G20 established a Financial Stability Board in Basel, Switzerland. This is a large committee that determines how all financial organizations will be regulated in the future, how control will be carried out, what the policy of the central banks should be. This applies to other areas as well – the provision of food products, transport problems, ecology.
At the meeting of the G-20 in the Mexican city of Los Cabos, the need to strengthen the International Monetary Fund was discussed. The G20 leaders agreed to provide the organization with an additional $456 billion. In 2013, the work of the International Monetary Fund will also be discussed. The head of the administration of the President of Russia, Sergey Ivanov, said that at the meeting in St. Petersburg (September 5-6) the practice of meetings of the leaders of the BRICS countries will be continued, as well as consultations with international and expert organizations and countries that do not enter the G-20. The president of Chile has already received an invitation to the meeting in St. Petersburg.
The BRICS countries intend to continue the conversation about increasing their influence in the International Monetary Fund. The question of the inclusion of the national currencies of the BRICS countries in the SDR (in English: Special Drawing Right) – the basket of special drawing rights of the IMF – remains on the agenda, notes the analyst of the “Capital-Finance” group Alexei Vyazovsky: – Leads vying for the leadership of the IMF. Shareholdings were redistributed – accordingly, there should be more non-US votes on the Board of Directors. The share in the International Monetary Fund depends on the imports that this or that country gives. If the BRICS bloc is to participate more in the IMF, of course, power there must gradually shift to developing countries. The G-20 meeting is the main event of the series of economic events held by the country-president. The first of them – the meeting of the ministers of finance and the heads of the central banks of the “twenty” will be on February 15-16 in Moscow.
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