G20 Finance Ministers and Central Bank Governors meet in Washington D.C.
G20 Finance Ministers and Central Bank Governors met in Washington on April 18. Speaking about the guidelines for reducing national debt in G20 countries, Russian Finance Minister Anton Siluanov told that a decision on the issue may be taken on Friday.
"Today, this is the most important issue. I'm referring to medium-term parameters for national debt - not tough indicators, but rather guidelines for national debt reduction," he said.
He also said G20 has already announced their opinion according to the fiscal policy that will have less room for maneuvering with tough parameters for reducing deficit and debt.
"I think we'll find a compromise on the right and balanced language. We should have guidelines for orientation," he said, add that Russia does not expect a substantial debt increase.
Siluanov also told that Russia advocates the early recovery of stable banks in Cyprus and suggested including in the communique measures to create a mechanism for automatically prevention bank crises.
"The Cypriot issue was raised. We spoke about the needness to develop an early warning system for such cases. We said it is necessary for stable banks to recover as soon as possible," said the minister.