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Chinese president calls for closer BRICS cooperation, G20 coordination (3)


08:27, June 19, 2012

Brazilian President Dilma Roussef, Russian President Vladimir Putin,Indian Prime Minister Manmohan Singh, Chinese President Hu Jintao and South African President Jacob Zuma (L-R) pose for group photo in Los Cabos, Mexico, June 18, 2012. (Xinhua/Ma Zhancheng)

While discussing the issue of boosting funds for the International Monetary Fund (IMF), Hu emphasized that the G20 members have to take the global economic stability and growth into account and encourage and support euro-zone nations to adopt due measures to lift market confidence.

The BRICS leaders agreed that ensuring sufficient resources for the IMF is conducive to the international community's efforts to tackle the current major challenges in global economy and financing.

The BRICS nations are ready to help, they said, while stressing that the IMF should implement the 2010 reform plan on its quotas and governance in a comprehensive and timely manner.

The leaders also discussed the possibility of setting up a currency swap arrangement and a foreign exchange reserve pool within the five-member framework.

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