BRICS leaders outline future strategy

Leaders of the five-nation BRICS bloc have issued a declaration on a broad range of issues, following their one-day summit in New Delhi on Thursday. It outlines a path for achieving stability, security and prosperity, and highlights the roles of the International Monetary Fund and the World Bank.

The declaration also focuses on the Doha Round of trade talks, and the possibility of establishing a new development bank for emerging economies.

Leaders also shared views on the Middle East and North Africa, particularly Syria and Iran, as well as the situation in Afghanistan, global energy, and terrorism.

The fourth BRICS summit came as the global economy continues to struggle against fragile financial systems, high public and private debt, high unemployment and the rising price of oil.