Kudrin urges creation of new currency regulators
DAVOS. Jan 29 (Interfax) - Russian Deputy Prime Minister and Finance Minister Alexei Kudrin has called for creating new regulators for the world's currency systems.
"In this crisis we have sensed the need for regulation, including regulation of global reserve currencies. I think it will be necessary to create new regulators to deal with currency systems," Kudrin said in Davos at a World Economic Forum discussion devoted to the issue of whether currency restrictions should be introduced to avoid new crises.
Russia is not planning to bring back foreign currency restrictions, he said. "Our choice is a more responsible macroeconomic policy and reduction in dependence on oil and the currency risks associated with that," he said.