Putin proposed to create a Fund to support victims of coronavirus countries

the President said that the Russian government allocates 1.2 percent of GDP to combat these crises, in the same amount of support and the Central Bank. But if to speak about “twenty” in General, the required General plan of action to stabilize the situation, support economies and restore confidence in global markets.

Photo: RIA Novosti Putin has invited the group of twenty countries work together to find a cure for coronavirus

“a Key role in improving global demand should play, of course, national budgets”, – said Vladimir Putin. But because of the strong volatility of world markets, what is happening every day, the possibility of borrowing for many countries is limited. The situation is complicated.

And it is essential to ensure access to financing for countries experiencing resource requirements, especially those who have been affected by the crisis and the pandemic. “It would be possible to think about creation under the auspices of the IMF’s special Fund, financed primarily by the funds of the Central banks issuing the currencies included in the IMF basket, and then give right to any member of the IMF to borrow from this Fund, in proportion to its share in the world economy at the zero rate for the long term”, – proposed the head of state.

Photo: Nina zotina/RIA Novosti Most importantly from the appeal of Vladimir Putin to the citizens of

At a time of crisis would strengthen cooperation on the level of economic advisors, has proposed Vladimir Putin. “They have direct access to the leaders of the States and can OPEadministrative, informal, fast enough to take the decision,” he justified. You also need to effectively and quickly finish all the questions associated with the reorganization of the global international organizations. “It is obvious that the mechanism of automatic stabilization at the onset of the crisis phenomena they haven’t,” he said.