Russia says debt reduction should be priority for G20 nationsDecember 3, 2012 - 21:27 AMT PanARMENIAN.Net - The world’s developed nations should not abandon their budget consolidation and debt reduction plans, Russian Finance Minister Anton Siluanov said on Monday, Dec 3, according to RIA Novosti. “The majority of developed countries with a high level of debt recognize the need to have debt reduction programs,” he said at a news conference at RIA Novosti devoted to Russia’s G20 presidency, which started Dec 1. “It is obvious to everyone that without debt cuts there can be no economic growth,” he said, referring to G20 discussions over which should get the priority - budget consolidation or economic growth. “The main trend for heavily indebted countries is to implement debt reduction programs; only after that can a course be set for the restoration of economic growth.” Whether the heads of state are able to implement such programs is a contentious political issue, Siluanov added. Russian G20 Sherpa Ksenia Yudaeva said debt reduction should not oppose stimulus of economic growth. “In pursuing a debt and budget deficit reduction policy there is an array of options to choose from that can either hold back growth or have the least negative impact on it,” she said. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Narek Manasyan wins European Boxing Championships silver for Armenia Armenia’s Narek Manasyan (92kg) won Armenia’s second silver medal at the European Boxing Championships 2024 on April 28. Blinken urges Azerbaijan to continue negotiations with Armenia Secretary of State Antony J. Blinken has urged Azerbaijani President Ilham Aliyev to continue negotiations with Armenia. Pashinyan, Blinken talk Armenia-U.S. ties over the phone Prime Minister Nikol Pashinyan had a phone conversation with US Secretary of State Antony Blinken on April 28, Pashinyan’s office reports. Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation. |