(Adds Shuvalov quotes, background)
By Dmitry Zhdannikov
MOSCOW, March 20 (Reuters) - The summit of leaders from the G20 group of industrial and developing countries is unlikely to bring significant progress on the reform of the International Monetary Fund, a senior Russian official said on Friday.
"In the documents I have received I do not see any serious decisions about the way the IMF works," First Deputy Prime Minister Igor Shuvalov told reporters. Russia, along with other emerging economies, is pushing for more influence in the IMF.
"I do not expect the emergence of the new global financial and economic architecture from the summit," said Shuvalov, a former Russian G8 sherpa who now heads the government's anti-crisis task force.
Russia, China, Brazil and India, also known as BRIC, want the IMF to review by January 2011 at the latest who has voting power on the financing body and link their contributions to the IMF emergency lending funds to the voting reform.
Russia earlier said an urgent need to raise funds to bail out countries most hit by economic crisis may force the IMF and the developed nations to bring forward the voting power rebalancing.
Russia has 2.7 percent of the IMF votes, and is unlikely to see its quota increased even under a proposed reform, China holds 3.7 percent, Brazil 1.4 percent and India 1.9 percent.
This compares to 17.1 percent held by the United States, 32.4 percent by the euro zone countries and 1.6 percent by Switzerland which ensures the dominance of developed nations in the IMF's decision making.
The BRIC countries also feature prominently on the list of the world's savers with China running the biggest foreign currency reserves, Russia third largest, India fourth and Brazil seventh. Most of the reserves are held in dollars and euros.
Russia has proposed the creation of a new reserve currency, to be issued by international financial institutions, among other measures in the text of its proposals to the April G20 summit published on Monday.
"We cannot all depend on the dollar and have no influence on the macroeconomic policy of this state. We are all users of this currency but cannot do anything in response, in terms of macro regulation," Shuvalov said.
"Today they say 12 percent deficit, tomorrow they will say 15-16 percent or 6 percent and no-one can do anything," he said, referring to the U.S. budget deficit.
Emerging nations are looking at Special Drawing Rights, originally created by the IMF in 1969 and now used mainly as an accounting unit, as a new reserve currency instead of the dollar.
The SDRs, like the euro's precursor the Ecu, are essentially a combination of currencies, weighted to a constituent's economic clout, which can be valued against other currencies and against those inside the basket.
Shuvalov said the reformed IMF should help regulate the issuers of reserve currencies but said a new organisation was needed should the world decide to create a new global currency.
"If we have several national reserve currencies, their economies should be regulated and we need a new role for the IMF. If it is a new supra-national currency and not the U.S. dollar, it should be a new structure," Shuvalov said. (Reporting by Dmitry Zhdannikov, writing by Gleb Bryanski, editing by Chris Pizzey)