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  • Briefing “The outcomes of the Youth 20 activities: the substance of the Y20 recommendations”

Y20 Russia 2013 delegates sum up the results of their work

Roman Chukov, Head of the Y20 Russia 2013 Secretariat, reported on the Y20's work during the year of the Russian G20 Presidency.

He noted that the proposals made ​​by young people have elicited varied responses from experts, some positive, some negative. "Many of them were positive, and many experts thought that the young people were overly mature in their reasoning. We can take pride in this, because we were concerned that they would see us as naive and idealistic youngsters," Roman Chukov said.

However, he believes that the importance of the Y20 Russia 2013 Summit lies in the fact that the young people from the G20 countries were able to reach an agreement and let their positions be known to the Leaders.

Head of the Russian Y20 delegation Inal Ardzinba described the main recommendations that made it into the Final Communiqué submitted to President Vladimir Putin. These proposals deal with two broad themes: the international financial architecture and sustainable development.

"We proposed changing the formula used for calculating IMF quotas, increasing the share of such an important measure as GDP, which effectively reflects the economic strength of a country," the head of the Russian Y20 delegation said. "We have also put forward an important idea about developing a mechanism for regular automatic redistribution of the quotas based on ever-changing macroeconomic parameters."

"With regard to sustainable development, we proposed keeping basic financial courses as part of school curriculum and updating certain standards of financial literacy. Financial corporations were offered the opportunity to create departments at leading higher education institutions in our respective countries," Inal Ardzinba said.

The participants focused on youth issues. In particular, the creation of a single employment database for young people was discussed as part of the effort to streamline social policies.

Inal Ardzinba pointed out that new high-quality items were added to the Y20 Summit's agenda this year. "We will be happy if our recommendations benefit the political leaders in their decision making," he said.

According to Inal Ardzinba, the ideas advanced by Y20 are in tune with the main theme of Russia's Presidency, which is promoting the economic growth and job creation. "We believe that the implementation of the measures proposed by the young people will help deal with these problems more effectively," he added. "The younger generation does not want to build a new world based on the old rules, and this is what our Final Declaration is all about."