Putin says Russia seeking IMF reform, battling offshores

Thu Jun 13, 2013 4:01pm EDT
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* Hopes for agreements boosting emerging market clout at IMF

* Praises G8 host Cameron for tackling tax haven troubles

* Russia holds G20 presidency, takes G8 helm next year

By Steve Gutterman

MOSCOW, June 14 (Reuters) - The International Monetary Fund needs "thorough reform" and Russia will push for deals giving developing countries more clout in time for a G20 summit it is hosting in September, President Vladimir Putin said in remarks published on Friday.

In an interview with Russian state news agency RIA before next week's G8 summit in Northern Ireland, Putin emphasised Russia's role as current G20 president and next year's leader of the Group of Eight industrialised nations.

He mixed criticism and praise, getting in digs at the West but casting Russia as a constructive partner eager to help.

The IMF often responds too slowly to changes in financial markets and the implementation of its decisions "leaves much to be desired as well," Putin said. "A good example is the global financial crisis, which the IMF system failed to prevent."

Talks on revising the IMF quota and voting systems to enhance the role of the BRICS countries and other developing nations "are not going smoothly. I would say that they have actually come to a standstill since 2010," he said.   Continued...