Russian President Dmitry Medvedev has urged the creation of a new and more equitable international financial regime so as to avoid future crisis, local media reported on Sunday.
"The current crisis has shown that their activities -- the activities of the International Monetary Fund, the World Bank and other structures -- are far from ideal," President Medvedev said in an interview with the Channel One TV programme.
President Medvedev, ahead of the G20 summit in London in April, appealed for the general stabilization of the situation in the financial sector, including efforts for a new financial order amid the global financial crisis.
"Therefore, these activities should be streamlined and become fairer to those states that have recently emerged as major economic powers and those with developing economies," he said.
The Head of State also suggested monitoring the macroeconomic indicators of countries that have an impact on the global financial situation so that problems that occur in one state do not create a severe domino effect.
The G20 countries agreed on further actions to restore global growth, support lending and strengthen the reform of the global financial system following the G20 Finance Ministers and Central Bank Governors Meeting on Saturday afternoon.