Russia announces that there is no functioning G-8 now even as they say they will still work with the G-20. Here is a link to the story and I have also pasted it below. Once again, there is no indication that the world is coming together right now behind some kind of major monetary system change led by the IMF. But the G-20 is still functioning so they also have not closed the door either.
"Russia said Wednesday that it was open for cooperation with major Western powers, but ruled out a return to the Group of Eight (G8), made up of the seven most industrialized nations, known as G7, and Russia.