Beijing early morning of June 19, the emerging economies, including Brazil, Russia, India, China and South Africa, including the collection, namely the so-called BRIC five countries said in a statement on Monday that they had agreed to the IMF to provide morecapital injection, and as part of the the BRIC five countries will also be exploring a currency swap the feasibility of promoting global financial stability efforts.
BRIC five countries announced the decision to participate in the G20 Group of Los Cabos, Mexico Summit period. The five countries said in a statement, "We have agreed to enhance their contribution at the International Monetary Fund (IMF).
The IMF has been trying to seek $ 430 billion in additional funds. However, the BRIC five countries in the statement did not specify how much capital injection will be provided to the IMF, but stressed that the new funds invested in how to use will be conditional, and the IMF, provide more decision-making voice of reform measures for the five major developing countries together.
The statement stressed that "We have been assured, new funds only will be considered to use existing resources to take full advantage of these new contributions in order to strengthen the consensus IMF reform measures in 2010 made these reform measures will be ordered to be fully implemented, including a comprehensive reform of the voting rights and the reform of the quota allocation. "
This statement of the the BRIC five countries be regarded as emerging economies attempt to seek greater influence in the global economic system, the latest attempt and hope to expand outside of the U.S. dollar and the euro currency more widely used. The statement pointed out that the BRIC five countries will discuss the feasibility of the exchange convention of the national currency and foreign exchange reserve pool. "
The statement said the BRIC finance ministers and central bank governors have been asked to currency swaps and foreign exchange reserve pool, as well as relevant international legal issues, and in 2013 the BRIC five countries during the summit in South Africa to countries The leaders of the submitted report.
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