Unemployment public enemy No. 1

Moscow witnessed a sort of historical event – the first meeting of the G20 Labor and Employment Ministers as well as Ministers of Finance. The leaders of ministries and central banks have discussed issues concerning favorable labor market conditions. The G20 representatives considered the fight against unemployment and new workplaces creation as a priority policy, the communique released after the meeting says. Besides, the G20 upheld the Organization for Economic Co-operation and Development plan on combating tax evasion. The G20 pays assiduous attention to this problem and is intending to cooperate with OECD in this project realization. Moreover, the representatives emphasized that it was necessary to ratify the reform introduced by the International Monetary Fund as soon as possible. This step will give an opportunity to improve the world's status of such countries as China, Russia, and the Republic of South Africa and reflect the real state of affairs and their economies' growing proportion on the world market. Russian Finance Minister Anton Siluanov announced at the press conference that some of the participants were disappointed that the IMF reform implementation has been slow to show yields. The major event – the summit – will be held in St. Petersburg on September 5-6, 2013. It is worth noting that the Russian Federation chairs the Group of Twenty till 2014.