Russia wants more say for emerging economies

Published: 30 Mar 2009 02:30:20 PST

GENEVA, March 30 - This week's G20 summit should push forward International Monetary Fund and other reforms to give emerging countries more say in global finance, Russian deputy foreign minister Alexander Yakovenko said on Monday.

Yakovenko, speaking at the United Nations offices in Geneva, said a technical conference should be convened soon after the London meeting "to agree on key elements of the global financial architecture" that would give more power to developing states.

"Russia is advocating fundamental reforms of the Bretton Woods institutions and a revision of the quota voting system. We also support the enlargement of the Financial Stability Forum by including major economies and we think this should be done as soon as possible," he said through a translator.