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Russia expects G20 declaration to mention settlements in national currencies — diplomat

Moscow hopes that "the role of developing nations in the system of Bretton-Woods institutions to be significantly increased, so that members of the extended BRICS group could have a blocking stake in the decision-making process of the International Monetary Fund, the World Bank and other organizations" that are a part of this system

MOSCOW, September 8. /TASS/. Moscow expects that the final declaration of the upcoming G20 summit in India will reflect matters related to settlements in national currencies, the head of the Department of Economic Cooperation at the Russian Foreign Ministry Dmitry Birichevsky said in an interview to TV BRICS.

"Of course we expect a detailed coverage of the issue of the global financial system, issues of settlements in national currencies and the role of the developing world in general this year," he said, when asked about Russia’s expectations for the upcoming G20 summit and its final document.

Moscow hopes that "the role of developing nations in the system of Bretton-Woods institutions to be significantly increased, so that members of the extended BRICS group could have a blocking stake in the decision-making process of the International Monetary Fund, the World Bank and other organizations" that are a part of this system.

"Of course, trade will also be on the agenda," Birichevsky continued. "The World Trade Organization should operate on the basis of fairness, establish rules that take interests of all delegations - in fact, of all countries in the world - into account and [create] measures aimed at resisting protectionist trends."

In his words, the process of drafting the final document takes a lot of time and effort, because some members have different approaches and attitudes.

"We will have to work hard, sometimes at night, to achieve the intended result," Birichevsky said.

The G20 summit in New Delhi will be held on September 9-10 in person. Leaders of all G20 countries and nine other states (Bangladesh, Egypt, Mauritius, the Netherlands, Nigeria, Oman, Singapore, Spain and the UAE) have been invited to attend. The Russian delegation to the event will be led by Russian Foreign Minister Sergey Lavrov.

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