MOSCOW (Reuters) - Russian President Vladimir Putin told the Group of 20 nations on Friday 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.
“The days when economic crises had an isolated impact are gone - problems in the United States and the euro zone affect each country’s economy,” 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. Previous G20 commitments to redistribute voting rights at the International Monetary Fund “must be enforced”, Putin also said.
G20 officials were locked in difficult talks to find common language for a joint statement on currencies and borrowing.
Reporting by Alexei Anishchuk; Writing by Douglas Busvine