They reaffirmed their commitment to strengthening the framework of BRICS cooperation under the three pillars of political and security, economic and financial, and cultural and people-to-people cooperation upholding the BRICS spirit featuring mutual respect and understanding, equality, solidarity, openness, inclusiveness, and consensus.
A joint statement issued at the end of the meeting of the BRICS Ministers of Foreign Affairs and International Relations, also pressed for a robust Global Financial Safety Net with a quota-based and adequately resourced IMF at its centre
The BRICS nations on Friday underlined the need for using local currencies in international trade and financial transactions besides committing themselves to supporting rule-based open and transparent global trade.
A joint statement issued at the end of the meeting of the BRICS Ministers of Foreign Affairs and International Relations, also pressed for a robust Global Financial Safety Net with a quota-based and adequately resourced International Monetary Fund (IMF) at its centre.
It further said the process of IMF governance reform under the 16th General Review of Quotas, including a new quota formula as a guide, should be completed by December 15, 2023.
Transcript of a Press Conference of the Chair of the Intergovernmental Group of Twenty Four (G24) on International Monetary Affairs and Development imf.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from imf.org Daily Mail and Mail on Sunday newspapers.