Friday, October 31, 2014


Russia

BRICS, South American Leaders Meet

Russian President Vladimir Putin talks with Bolivia's President Evo Morales as they attend the official photo session during the sixth BRICS summit and the Union of South American Nations (UNASUR), in Brasilia July 16, 2014.
Russian President Vladimir Putin talks with Bolivia's President Evo Morales as they attend the official photo session during the sixth BRICS summit and the Union of South American Nations (UNASUR), in Brasilia July 16, 2014.

The leaders of the BRICS group of emerging market economies have met with South American presidents on the second day of a summit in Brazil.

The leaders of Brazil, Russia, India, China, and South Africa held talks in Brasilia on July 16 with counterparts from Argentina, Chile, Colombia, Ecuador, Venezuela, and other Latin American states.

The gathering follows a BRICS-only meeting in the seaside city of Fortaleza, where the five countries agreed to create a new development bank and a $100 billion reserve fund.

The financial institutions would work in parallel with the World Bank and the International Monetary Fund, seen by BRICS leaders as dominated by the United States and the European Union.

INFOGRAPHIC: A Look At The BRICS

 

Brazilian President Dilma Rousseff has suggested the BRICS development bank and monetary fund could be used to aid other developing nations.

Based on reporting by AFP and Interfax

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