Reform of financial system to top agenda
The European public debt crisis will dominate the talks, according to a statement from the Russian president’s office.
“Russia is a major shareholder in the IMF and is actively involved in the efforts of the international community to reform the global financial and economic system to bring it into line with modern realities,” according to the statement. The two leaders will discuss “further steps to reform the global financial system,” it added.
Lagarde will fly to China for additional meetings after her Moscow visit. European policy makers are looking beyond their borders to help more than double the size of their €440bn rescue fund to €1 trillion.
The BRICS group of emerging economies — Russia, China, Brazil, India, Brazil and South Africa — is ready to help protect the euro in exchange for increased voting rights at the IMF, Medvedev said.
