The President of Russia Dmitry Medvedev leaves open the possibility to use in time a common unit of account for payments and crediting within the framework of the Shanghai Cooperation Organization. It was declared by him during the press conference following the SCO summit that was held in Yekaterinburg.
“The present basket of currencies and the primary reserve currency - the U.S. dollar – did not manage their functions, “Medvedev underlined. “The present configuration of the world exchange system is not ideal; there are a number of risks.”
“My colleagues and I in our speeches have expressed the need for an additional quantity of reserve currency we will not do without after all,” said Medvedev.
At the same time the RF President pointed out that the appearance of new reserve currencies is a “long process”, a number of conditions must be fulfilled for this. According to him, in foreseeable historical perspective the Russian Federation currency could pretend to it as well, “but this is a process of authority accumulation through economy.”
“In spite of informative character of talks, we could discuss all the assigned questions,” said D.Medvedev, upon resuming the summit.
According to the President of Russia, “the talk was absolutely straight and characterized by really genuine confidential conditions, atmosphere.” “It concerned both prospects for the development of SCO, and problems connected with the global crisis, as well as the main subjects of discussion - terrorism, narco-crime, in general what worries the Shanghai Cooperation Organization member states,” Medvedev noted.
Dmitry Medvedev noted that attention was, particularly, given to the North Korean problem. “This kind of behavior in today's situation is unacceptable,” he emphasized.
“SCO is becoming a fundamental, universal site for important problems discussion and means of their solving. There are few organizations that for eight years could gain the same political and economic weight as SCO,” said the Russian President.
Dmitry Medvedev also noted that “final evaluations and arrangements are reflected in the Yekaterinburg Declaration, in the Joint Communiqué.” “The chief thing is that the participants of the Organization intend to continue to develop the multi-field cooperation both in the security field, and in strengthening of economic and humanitarian relations,” said Medvedev.