21 October 2016

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BRICS urges Europe to cede two chairs in IMF to African states

The leaders of the BRICS (Brazil, Russia, India, China and South Africa) have called on European countries to cede two chairs on the Executive Board of the International Monetary Fund in favor of the least developed countries, including those in Africa.


"We call for the advanced European economies to meet their commitment to cede two chairs on the Executive Board of the IMF," according to Goa Declaration at 8th BRICS Summit, published on the official website of the Ministry of External Affairs of the Government of India.

Ukraine Finance Minister discusses cooperation with IMF, World Bank officials"The reform of the IMF should strengthen the voice and representation of the poorest members of the IMF, including Sub-Saharan Africa," the Declaration reads.

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