19 Jul 2010 13:56

Global financial monitoring should be created - Nazarbayev

ALMATY. July 19 (Interfax) - Kazakh President Nursultan Nazarbayev believes it is a necessity to develop a global system of financing oversight during the post-crisis period.

"We are already today discussing the second crisis wave. There are various future scenarios but there is no general picture of post-crisis development. The global agenda for post-crisis development includes a new model of economic stability. A global system for regulating and overseeing financial markets is necessary, which would help prevent the distortion of world currency," Nazarbayev said at an informal meeting of Foreign Ministers of OSCE (Organization for Security and Cooperation in Europe) countries on Saturday at the Ak Bulak resort outside of Almaty.

He also stressed that a supranational currency should be created for supporting a more stable global economy.