BRIC summit to focus on economic, financial issues (2)

15:34, April 09, 2010      

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Jaguaribe said the BRICs were an "advocate of big changes in the international context", while working for an expansion of relations between member countries.

"The BRIC does not intend to be regulatory, but a group of convergence, to bring our positions more effectively to legitimate multilateral forums," he said.

At the upcoming summit, the problems leading to the financial crisis, the reform of international lending agencies and the measures necessary to ensure the global economic recovery will be discussed.

Jaguaribe said a possible new international reference currency, an issue that generated much expectation at the last summit in Yekaterinburg, Russia, last year, concerned all countries, but all countries were interested in a balance of the financial matter.

He said the summit would avoid "moves that will create waves, excessive speculation, and questions about the dollar, or the creation of a basket of currencies", but a technical meeting on the matter will take place in Brasilia.

"The presidents of central banks (of the BRICs) discuss the issue at regular meetings, but with much caution," he said.

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