G20 Summit: Nazarbayev outlined his vision of global economic problems' solution
HANGZHOU. KAZINFORM At the Summit of G20 Leaders in Hangzhou, Head of State Nursultan Nazarbayev has presented his vision of solution of the global economic problems.
"In our opinion, a common global organization must play a leading role in international regulation of economy and finances. Such structure can be established by restructuring of the UN Economic and Social Council into a Global Development Council. This Council will be imposed the functions of the global economic regulator," said Nursultan Nazarbayev.
In his words, the coordination of monetary and fiscal policies, structural reforms are an absolute need, but they are not enough for ensuring stability in a long-term outlook.
"We need to develop more substantial propositions to stabilize exchange rates around the world including the developing markets," he emphasized.
The Kazakh Leader reminded that Kazakhstan outlined its vision of solution of the world's most acute problems in the Manifesto "The World. The 21st Century" and expressed hope for support from G20 in implementation of the Manifesto and formation of the world free of nuclear and other mass destruction weapons.
"The unification of the efforts of all G20 member states and other interested countries could be a good beginning towards full victory over terrorism. The whole world community is waiting for this," N.Nazarbayev concluded.