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Kremlin official says West cannot solve global problems without Russia

01.01.70

Moscow, 19 June: Russia's presidency of the G8 is a sign that Russia is perceived as being an equal partner, Head of the President's Expert Department Arkadiy Dvorkovich has said.
"The G8 presidency is a sign that we are perceived internationally as being an equal partner," Dvorkovich told the 10th annual investors conference in Moscow today.
"Because of some ludicrous misunderstanding we did not get past the face control at a number of closed clubs, including the WTO, the financial G7 and the Organization for Economic Cooperation and Development," he said. "The fact we are not a member of these clubs is not our problem. It is the problem of the leaders of these clubs, who think that they can solve problems without Russia," Dvorkovich added.
According to him, "Russia, being one of the largest countries and playing a leading role in international politics, cannot be left out, otherwise problems will not be solved effectively".
Speaking at the conference, Dvorkovich also noted that currently "there is no reason to think that there could be a crisis in the currency market. There are also no grounds to say that we have any problems in paying our external debts".
He pointed out that from 1 July all restrictions on the movement of capital into and out of Russia will be lifted. "As well as lifting formal restrictions on the movement of capital, more effective economic policy steps need to be taken so that investors understand that the rouble is a currency that can be relied on," he said.
In his opinion, "inflation is a serious problem for the Russian economy". "The spending of excessive amounts of money, which triggers inflation, is a hangover for the country," Dvorkovich believes. "This hangover, which occurs as the result of excessive spending, is the inflation which the Russian finance minister keeps talking about, not without reason," he added. "We have sufficient resources to ensure funding for current spending," he stressed.
[A second RIA report at 0948 gmt added that Dvorkovich spoke out against imposing limits on foreign borrowing for private and state companies.]
Source: RIA Novosti, Moscow, in Russian 0933 gmt 19 Jun 06

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Le College de France
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