- Title: RUSSIA: Russia's President Putin greets G20 officials in Kremlin
- Date: 15th February 2013
- Summary: MOSCOW, RUSSIA (FEBRUARY 15, 2013) (REUTERS) KREMLIN G20 OFFICIALS (SOUNDBITE) (Russian) RUSSIAN PRESIDENT VLADIMIR PUTIN, SAYING: "Obviously, the situation in the world economy requires responsible and consolidated actions from us. The time of local and isolated crisis is gone. Financial problems in different world's leading economies affect the global economy. It is impossible to protect oneself and stay clear of world's processes. Not a single nation can deal with modern challenges on its own." G20 OFFICIALS AT ROUND TABLE (SOUNDBITE) (Russian) RUSSIAN PRESIDENT VLADIMIR PUTIN, SAYING: "On average, in developed economies debt has already exceeded GDP. It is not absolutely clear how the countries intend to service their debts. This obviously causes concern for the investors, and the countries themselves end up in the vicious circle of debt and economic crisis. I'm convinced that only with a clear and transparent policies of governments in managing budget deficits and sovereign debts it is possible to secure the necessary level of trust of investors." G20 OFFICIALS AT ROUND TABLE (SOUNDBITE) (Russian) RUSSIAN PRESIDENT VLADIMIR PUTIN, SAYING: "Thank you for coming to Moscow today, thank you for your efforts to resolve the pressing and highly critical issues." MANAGING DIRECTOR OF IMF CHRISTINE LAGARDE AND OTHER G20 OFFICIALS CLAPPING PUTIN SHAKING HANDS WITH G20 OFFICIALS
- Embargoed: 2nd March 2013 12:00
- Keywords:
- Location: Russian Federation
- City:
- Country: Russia
- Topics: Economy,Politics
- Reuters ID: LVADULYG6KKPZCRT8C8GSE0UA5SN
- Aspect Ratio:
- Story Text: Russian President Vladimir Putin calls on G20 finance leaders gathered for meetings in Moscow to focus on debt and budget deficit management.
Russian President Vladimir Putin told the Group of 20 nations on Friday (February 15) that it was vital to eliminate economic imbalances and have a clear strategy on borrowing to put the global economy on a sustainable growth path.
"Obviously, the situation in the world economy requires responsible and consolidated actions from us. The time of local and isolated crisis is gone. Financial problems in different world's leading economies affect the global economy. It is impossible to protect oneself and stay clear of world's processes. Not a single nation can deal with modern challenges on its own," Putin told G20 finance ministers and central bankers in the Kremlin.
The Russian leader, who hosts a G20 leaders' summit in September, said the primary task was to eradicate economic imbalances and stimulate global growth.
He called for "transparent management" of budget deficits and debts to win investor trust.
"On average, in developed economies debt has already exceeded GDP. It is not absolutely clear how the countries intend to service their debts. This obviously causes concern for the investors, and the countries themselves end up in the vicious circle of debt and economic crisis. I'm convinced that only with a clear and transparent policies of governments in managing budget deficits and sovereign debts it is possible to secure the necessary level of trust of investors," Putin said.
"Thank you for coming to Moscow today, thank you for your efforts to resolve the pressing and highly critical issues," he added.
G20 officials were locked in difficult talks to find common language for a joint statement on currencies and borrowing. - Copyright Holder: REUTERS
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