BRICS countries confer at G20 summit

Updated: 2013-09-05 20:11

By WU JIAO in St Petersburg (

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The leaders of the BRICS nations — Brazil, Russia, India, China and South Africa — met on Thursday on the sidelines of the G20 summit in St Petersburg, Russia.

The leaders were expected to coordinate their positions regarding the summit.

Discussions on financial plans, including setting up a development bank and a currency reserve fund, were also expected at the meeting.

Analysts said a currency reserve fund, if set up, will help ease short-term liquidity pressure and safeguard financial stability of major emerging economies.

President Xi Jinping met separately with Russian President Vladimir Putin and Brazilian President Dilma Rousseff earlier on Thursday.


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