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  • G20 Russia 2013

Active discussion of global financial issues in the United States

A traditional dinner was held in Washington D.C. on the evening of October 10, 2013, the day before the G20 Finance Ministers' and Central Bank Governors' Meeting. The dinner was attended by representatives of the World Bank and the International Monetary Fund. Russian Finance Minister Anton Siluanov told journalists about the event.

U.S. budget issues were one of the topics at the dinner. "Of course, we all expect our colleagues to resolve these issues as soon as possible, and we wish them good luck, because the tentative growth rates of the U.S. economy serve as a locomotive for other countries," Siluanov said. These issues may be reflected in the final communique of the forthcoming meeting. "The participants will express our general desire, literally in a couple of sentences in the final communique, about our concerns and our wishes for an early resolution," Siluanov said.

He also expressed hope for positive results of the forthcoming replacement of the Head of the Federal Reserve and wished success to Janet L. Yellen, who has been nominated for the position. "She produced a positive impression on the audience when she spoke about monetary policy at the previous meeting of the G20 Finance Ministers and Central Bank Governors. I enjoyed her speech, which was well balanced and competent. I hope she will serve in the same manner in the event of her appointment," Siluanov said.

He also mentioned the issue of raising the limit on Russia's external borrowings in 2015-2017, adding that the demand on the external market is three times higher than the supply. "If the situation on the external market calms down, we can talk about more active borrowings," he said.

Siluanov discussed this and some other issues at his meeting with foreign investors in New York the day before. They spoke about the issue of sovereign bonds, factors affecting the assessment of Russian companies' shares, Russia's tax system and customs and tariff policy, financial regulation, management of reserves and the macro economic situation in general.

The participants made the decision to conduct regular meetings. "We've decided to meet in this format, on the sidelines of the G20 Finance Ministers' and Central Bank Governors' Meeting, twice in the United States - New York or Washington - and once or twice in Europe. This will allow us to hear each other. The practice of other countries points to the need to meet more often," the Minister said, adding that such meetings will allow investors to get first-hand information about changes in the Russian economy.