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.
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