The G-20 announced the threat of a sharp deterioration in the economic situation in developing countries. This was told by Deputy Finance Minister Sergei Storchak.
“Many saw the risks that due to the clearly manifested tendency of appreciation of borrowed funds for these states, due to the strengthening of the dollar against the currencies of these states, due to internal problems, a number of countries with populist tendencies have economy ", – quotes his words TASS.
According to a number of G20 members, to reduce such risks, it is necessary to form international reserves in the amount of at least 3% of imports. However, according to Storchak, there were also those who did not agree with this approach, since “the formation of reserves at the same time means a decrease in investment within the country”.
Among the other measures proposed by the G20 are structural reforms, the fight against inequality, increased labor productivity and monetary policy – including an assessment of the share of non-residents and non-bank structures among countries' creditors.