Serious problems the world economy and the eurozone in particular have to be faced and solved, Lagarde says.
On Monday, Christine Lagarde as IMF chief has met President Dmitry Medvedev on her first trip to Russia with the talks about the eurozone debt crisis. Russia, which had a relatively low budget deficit and public debt, had not been hit by the debt crises that had happened in some EU countries. Moscow had tried to increase its profile within the International Monetary Fund (IMF) and has said that it was ready for giving contribution to an EU bailout package through the global financial institution.
In an interview with Russian broadsheet Kommersant published on Monday, Lagarde told that we would discuss about serious problems the world economy and the eurozone in particular are being facing. Lagarde also said that our discussion would touch upon the way these events affect economic policy priorities as well as the prospects of Russia's economic development. In addition, Kremlin had confirmed that talks would focus on the eurozone crisis and further steps for reforming the world financial system.
The IMF chief would also visit China and Japan following talks in Russia. All three countries had said interest to give financial assistance to Europe, under the IMF's guide or oversight. The Kremlin explained that $10 billion was Russia's contribution which was being negotiated with the IMF.