BRICS looks at funding pool, money exchanges
By Wu Jiao in Los Cabos and Ariel Tung in New York | China Daily | Updated: 2012-06-20 08:05
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President Hu Jintao (second right), Brazilian President Dilma Rousseff (left), Russian President Vladimir Putin (second left), Indian Prime Minister Manmohan Singh (center) and South African President Jacob Zuma pose for a picture after a BRICS leaders' meeting in Los Cabos on Monday. The leaders are in Los Cabos, Mexico, for the G20 Summit. Lan Hongguang / Xinhua |
The BRICS countries said on Monday that they're considering setting up a foreign-exchange reserve pool and a currency-swap arrangement as financial problems threaten to spread across the global economy.
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