30 Nov 2018 18:16

BRICS should play bigger role in global finance, seek stronger influence in IMF - Putin

BUEOS AIRES. Nov 30 (Interfax) - BRICS has every reason to seek stronger influence in the International Monetary Fund (IMF), Russian President Vladimir Putin said.

"The quintet would be completely justified in playing a more substantial role in the global financial system, seeking a continuation of the IMF reform, and strengthening our influence in the Fund," Putin said at a BRICS meeting on the sidelines of the G20 summit.

The new development bank, which is already funding 26 BRICS projects worth $6.5 billion, is making a substantial contribution to financial stability, he said.

"We are also expecting the BRICS' fund for bonds and national currencies to begin working in 2019, which should strengthen the financial and investment stability and broaden interaction among national payment systems," Putin said.