MOSCOW, December 13 (RIA Novosti) – Russia will put investment financing and debt reduction at the top of the G20’s financial agenda next year, Deputy Finance Minister Sergei Storchak said on Thursday.
Russia took over the G20 presidency on December 1.
“The idea is simple – consider what could be done to prevent debt crises in the future and find new ways for the effective use of loans,” Storchak said.
The G20 nations will focus on macroeconomic policy and financial markets and address ways to restore economic growth, he said.
Russian G20 Sherpa Ksenia Yudaeva said investment-driven growth would underpin Russia’s presidency.
“The subject of investment driven growth will run through our entire presidency,” she said.
Russian Finance Minister Anton Siluanov earlier said the world’s developed nations should not abandon their budget consolidation and debt reduction plans, adding without debt cuts there could be no economic growth.
The first meeting of G20 finance ministers and central bank heads will take place in Moscow on February 15-16 while the G20 heads of state will meet in the fall of 2013 in St. Petersburg.