In an interview with the TV channel Russia Today, Russian Minister of Finance Anton Siluanov spoke about the prospect of recession in Europe and ways to resolve the problem.
The minister noted that the outlook for the world economy had been revised downwards, and that this trend will continue into the coming years. As such, debt management will be a key discussion point during the next G20 Finance Ministers and Central Bank Governors Meeting.
"Since the debt situation in key countries remains unchanged (and a way out for some countries is nowhere to be seen)," Mr. Siluanov said, "developing guidelines to reduce the debt burden of G20 countries with high debt levels is one of the issues on the agenda of the G20 ministerial meeting."
He also stressed the importance of coordinating economic, financial and fiscal policies, as well as policies in the field of trade and protectionism prevention that are being considered at the G20 Finance Ministers and Central Bank Governors Meeting, as a means of preventing further declines in economic growth.