Russia takes lead role in Group of 20

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MOSCOW, Dec. 1 (UPI) -- Russia assumed the chairmanship of the Group of 20 Saturday with President Vladimir Putin promising policies that will create jobs.

Putin said stimulating economic growth in the world's 20 largest economies and others is the primary task for the year Russia will head the organization, RIA Novosti reported. He said transparency and effective regulation are important to encourage investment and confidence in global markets.

"With these priorities in mind, we will discuss all the traditional G20 themes. Among them, the state of the world economy, and creation of an effective framework agreement to guarantee creditable and balanced growth, reform of the currency system and financial regulation and oversight, stability in global energy markets, strengthening of multilateral trade, and the fight against corruption," he said.