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MOSCOW, February 15 (Itar-Tass) – A key challenge for the Group of Twenty now is to proceed from short-term anti-crisis measures to long-term planning, Russian President Vladimir Putin said on Friday at a meeting with Group of Twenty Finance Ministers and Central Bank Governors.
“The time of local, isolated crises is over. It is impossible to stay aside from global economic processes. Not a single country can withstand present-day challenges alone,” he stressed. It takes close coordination of the economic policy, he noted.
“We see the key task of the Group of Twenty and Russia’s presidency in tuning these institutes, creating new efficient instruments to do away with the existing imbalances and to encourage growth in all regions of the world,” the Russian president stressed.
According to Putin, the decision taken by the Group of Twenty have influences the global market situation and made it possible to take coordinated measures, including restrictions on trade protectionism, a new impetus to foreign trade negotiations, new principles of financial regulation, the launch of the reform of international financial organizations.
“As of now, the Group of Twenty has made the most urgent anti-crisis steps and taken short-term measures,” he noted. “The key challenge now is whether the G20 is likewise efficient in solving long-term tasks, whether it is able to offer a policy that would take the global economy out of stagnation and uncertainty onto a path of sustainable growth.” Much will depend, in his words, on the agenda proposed by the presiding country.