Institutional reform on agenda

The leaders of the BRIC countries will not discuss the adoption of new global reserve currencies at the summit today, a top Russian official said.

"As far as practical issues are concerned, we will speak more about the possible ways to reform international financial institutions," top Kremlin aide Sergei Prikhodk told reporters, adding that the discussion of new reserve currencies will likely be "ruled out".

BRIC member countries have hoped that as their influence grows, the weakened US dollar may be replaced.