"I can tell you that if our colleagues don't find adequate remedies, the economy will develop in a very complicated manner...Responses need to be quicker and I say directly and openly that I hope some of our foreign partners hear me: events aren't happening as fast as we would like," Medvedev said.
"A number of issues that were discussed in Washington still haven't been resolved, including the participation of Russia and other countries in certain economic forums," he said, "Without this there won't be any solutions. We need to work together," he added.
The president said Russia had earlier raised concerns of a possible financial crisis.
"They told us that everything would be OK, but it didn't turn out that way," he said. "And, unfortunately, I have to constitute the fact that our prognoses were absolutely correct. It would have been better if we had been wrong," he added.
According to the Russian president, the reasons for the crisis are external: the situation in the U.S. and a number of other large economies, as well as "extremely inadequate international financial regulations."
"Regarding this we must do everything possible so that the future configuration of financial relations and the future architecture of the financial structure becomes more just and more contemporary, more appropriate," the president emphasized.
Even though Russia has been hit hard, the Russian economy was sufficiently prepared for the crisis, the president said.
"Our gold and currency reserves are the third largest in the world and that gives us a pretty good security cushion, stability for our economy, our financial structure and the currency system," he said.
