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Russian premier suggests regular meetings of EAS finance ministers

November 13, 2014, 10:39 UTC+3 NAYPYIDAW

International financial architecture can be strengthened in joint efforts, Dmitry Medvedev says

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 Russian Prime Minister Dmitry Medvedev

Russian Prime Minister Dmitry Medvedev

© TASS/Dmitriy Astakhov

NAYPYIDAW, November 13. /TASS/. Russian Prime Minister Dmitry Medvedev has suggested putting on a regular basis meetings of finance ministers of the East Asia Summit (EAS).

“International financial architecture can be strengthened in joint efforts,” the prime minister said at the summit meeting in Naypyidaw.

He drew attention of the summit to decisions of the BRICS group of nations to set up the New Development Bank and Contingent Reserve Arrangement.

“The amount of resources of these two financial instruments puts them on the list of leading global institutions in the sphere of finance,” Medvedev said.

The BRICS group of nations is made up of Brazil, Russia, India, China and South Africa.

On Russia's budget

The Russian government will review budget parameters only if oil prices slump, Prime Minister Dmitry Medvedev said in reply to reporters’ queries after the East Asia Summit.

A collapse in oil prices may necessitate a review of the budget parameters, but not under the current fluctuations of 79-81 US dollars per barrel, he said.

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