Medvedev Hails U.S. Summit Plan

Russia welcomed an announcement by U.S. President George W. Bush on Wednesday that he would host a summit to discuss the global financial crisis and reforms to prevent it from happening again.

Bush invited leaders of the G20, which includes the Group of Eight as well as key emerging-market countries like China, India and Brazil.

"Russia welcomes the U.S. decision to host the summit," Natalya Timakova, spokeswoman for President Dmitry Medvedev, said in comments confirmed by a Kremlin press office Wednesday.

"We can't yet say who will be the leader of the Russian delegation," the official said. "We are considering options."

The agenda will include discussion of the underlying causes of the financial crisis, a review of progress made in addressing them and the development of principles of reform to make sure these conditions are not repeated, the official said.

(Bloomberg, Reuters)