Moscow, May 18, 2006. – PRIME-TASS - Russia intents to invite Australia, South Korea and Nigeria to join the discussion of public finances and new donors, which takes place during G8 Finance Ministers’ meeting held on June, 9-10th in St.-Petersburg, Russian Finance Minister Alexey Kudrin told PRIME-TASS in an interview.

“This arrangement was reached this week in Moscow at the meeting of financial co-sherpas”, the minister said.

He noted that the efficient public finances management and participation of new world economic donors in the support of the poorest countries were new issues to be discussed out of G8 format. India, China and Brazil, which attended the discussion of some questions beyond the agenda of G8 Finance Ministers' meeting held in February in Moscow, would be invited to take part in the discussion again.

According to the agenda of G8 Finance Ministers' meeting, the issues of global economic growth, oil markets, programs of the poorest countries’ development, and activities within the Millennium Program will be discussed. The maintenance of energy infrastructures of the poorest countries will be also considered within the limits of these priorities.

Among other issues, the combating infectious diseases and setting up the Fund for Advance Financing of production of medications for the poorest countries will be discussed. Besides, the ministers will consider the procedure of accumulation and distribution of such medications for epidemic prevention according to the necessity. Separately, they will focus on the issue of preparation of world’s economies to fight against the bird flu.

Besides, there are the issues connected with education, namely financial literacy. “The financial literacy gradually becomes a new issue, which detailed discussion had never taken place before. We hope that this material would be interesting to the leaders of the G8 summit”, Kudrin noted. The Minister emphasized that the financial literacy is stimulated by the development of instruments, which allow rendering the whole range of services. First of all, this is the total fiscal literacy that concerns every citizen. Taxes open a lot of opportunities, in particular, rebates and exemptions, which are legal opportunities to obtain benefits. Such spheres as consumer mortgage lending and consumer retail purchases also depend on the financial literacy. It will be a question of investments range expansion; in order to make them profitable, it is necessary to make them totally secure and reliable. “This issue concerns not only Russia, but all the countries, especially the developing and poor countries, where population should receive financial services”, the Minister noted.

Concerning the issues of struggle against terrorism financing, we shall discuss certain aspects of regional structures interaction.

The issues of exchange rates will not be discussed at the meeting of G8 Finance Ministers in St.-Petersburg, since these issues are discussed with participation of central bankers, who are not taking part in this meeting. Nevertheless, Kudrin thinks that Russia is turning into a player with more and more influence on the global economic situation and monetary policy. “Investors and agencies perceive our words and standpoint very seriously, considering the role of Russia, the volume of our gold and foreign currency reserves, our policy in the oil sector, and the increase of Russian economy share in the world trade, especially, in energy supplies”, he said.