Source Pravda.Ru

Is the global economy emerging from crisis?

Russian President Vladimir Putin and IMF Managing Director Horst Keller met Thursday to discuss five issues, said presidential economic adviser Andrei Illarionov.

In particular, he added, the sides discussed the current situation in the global economy and Russia's economy as well, the progress of economic reform in the country and the Russian sides' further moves. Mr Keller voiced a number of IMF recommendations regarding Russian reforms, said Illarionov.

Plus, the meeting pointed out the obvious signs of the improving global economy, said the Russian presidential aide. In particular the US economic growth of over 7% in the third quarter testifies to the effect, he remarked.

Despite the insufficient evidence of a stable growth, the signs of positive changes are definitely there, the aide said.

According to Illarionov, the meeting pointed out Russia's "palpable progress" in the past two years since Mr Keller's previous visit to Moscow in 2001.

In particular the guest noted that Russian economy had positively affected the global economic performance.

The sides also looked into some aspects of Russia's budget, monetary and credit policy.

The IMF recommended a tougher monetary and credit policy because the rate of inflation has proved to be higher than expected, Illarionov said.