BRICS back expanding capital base of multilateral institutions
NEW DELHI (Reuters) - The BRICS group of emerging market nations support an expansion of the capital base of the World Bank and have agreed to look more closely at a proposal to set up a South-South development bank, Prime Minister Manmohan Singh said on Thursday.
Singh told reporters after a meeting of leaders from Brazil, Russia, India, China and South Africa that the group had agreed on the need to avoid political disruptions that cause volatility in global energy markets.
He also decried the lack of political movement on reforming global institutions such as the U.N. Security Council.
(Reporting by Rajesh Kumar Singh; Writing by John Chalmers)
- Tweet this
- Share this
- Digg this
- SPECIAL REPORT - In the land of the holy cow, fury over beef exports
- GMR, Megawide group set to win Philippine airport contract
- Supreme Court turns the clock back with gay sex ban
- Sensex down over 150 points ahead of inflation data
- GMR picks Citi, three others for $300-$350 million airport IPO - sources
The Sensex is forecast to scale new highs next year after elections, attracting offshore funds despite an expected rough period for emerging markets when the Fed shifts monetary policy, a Reuters poll showed. Full Article
Amount of dirty money leaving developing world jumped 14 pct in 2011 - report. Full Article