Nazarbaev says SCO can offer new reserve currency
15/06/2011 16:44
Nazarbaev says SCO can offer new reserve currency
15/06/2011 16:44
Tashkent, Uzbekistan (UzDaily.com) -- The Shanghai Cooperation Organization (SCO) can offer new reserve currency to the world, the President of Kazakhstan Nursultan Nazarbaev said at the SCO summit in Astana.
Nursultan Nazarbaev underlined that the world did not solve problem of global currency financial architecture. He said: “We need health supranational currency and desirably it should be strengthened with gold.”
He added that the SCO can make it. Swap operation, which the SCO started recently, is the first step. He said this is required for equal cooperation within the SCO.
Russian President Dmitriy Medvedev called the SCO members to solve issue with Special account, which will be used to finance large projects. He said that all states of the organization are ready to adopt decision on this issue.
Russian leader said that the special account resources could be used for technical-economic processing of large projects within the SCO.
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