"Each state carries the burden of the global financial crisis. And we propose holding a meeting of SCO finance ministers and heads of centrals banks in Almaty soon, which could address the situation on financial markets in the SCO region and be used to exchange opinions, to learn lessons from the current situation and make conclusions," Masimov told a meeting of SCO prime ministries in Astana on Thursday.

"This is required in order to minimize possible future risks and negative consequences. The issue is firstly about the fact that living standards are getting lower," the PM said.

The SCO brings together China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan and Uzbekistan, with Mongolia, Iran, India and Pakistan being observers.