国际英语新闻:Sustainable growth needs int'l consultations on economic policies: Putin

MOSCOW, June 13 (Xinhua) -- Russian President Vladimir Putin on Thursday called for international consultations on global economic polices, including restructuring the international financial and monetary architecture, so as to ensure sustainable economic growth around the world.

"The current situation has shown that certain country or group of countries, however big it is, had reached its limit in managing and controlling the economy and finance," Putin said in an interview with the RIA Novosti news agency.

"Cooperation is the irresistible trend ... To achieve sustainable global growth, the international community has to work together on economics policies, reform the international currency and financial systems," Putin said ahead of the Group of Eight (G8) summit due next week in Northern Ireland.

The president noted that the International Monetary Fund (IMF) does need "substantial reform" as it had failed "every now and then" to keep pace with as well as react to the fickle international financial situation.

Meanwhile, he saw the reform in the IMF "just part of the international financial architecture reform" and it was inappropriate to replace the IMF with new organizations given its particular experience in collaborating with the parties concerned.

"The primary goal is supposed to reshuffle the quota and discourse power distribution within the IMF. Special attention should be paid to developing countries, including the BRICS countries," Putin added.