Russia urges more important BRICS role in finance

Russia called for an increasing role of BRICS in international financial institutions, presidential aide Arkady Dvorkovich said Friday. "BRICS should play a more important role in the management of international financial institutions," Dvorkovich told journalists. BRICS is a grouping of the major emerging economies that include Brazil, Russia, India, China and South Africa. The official said a new trend should be set to make developing countries to get an expanding role in these institutions as well. Dvorkovich also said that during the upcoming BRICS summit in New Delhi, leaders of the five nations will discuss the function of the International Monetary Fund (IMF) in solving the world economic problems. He said BRICS had already injected a large amount of capital into the IMF, but some European countries still considered the amount should be enlarged. "Increasing the bloc's participation in the IMF should be related to rethinking of share in the structure," Dvorkovich said. He said BRICS voice should be enhanced in the IMF if European countries need more capital from these countries. Meanwhile, the presidential aide said that the Syrian and Iranian issues would also be discussed at the BRICS summit. The summit will take place from March 28 to 29 under the theme "BRICS Partnership for Global Stability, Security and Prosperity."