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BRICS, G20 have consensus on global economy risks-official

April 20, 2012, 17:27 UTC+3

He stressed that “not a single BRICS member is going to oppose itself to the G20

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WASHINGTON, April 20 (Itar-Tass) — There is consensus about the risks to the global economy between members of the BRICS groups (Brazil, Russia, India, China, South Africa) and the Group of Twenty, Russian Deputy Finance Minister Sergei Storchak said after Thursday meetings in Washington between the finance officials of the two groups.

“From the viewpoint of risks there is complete consensus between the BRICS and G20. In addition, the BRICS is part of the G20, and this sounded very clear in the course of the negotiations,” the Russian deputy finance minister said.

He stressed that “not a single BRICS member is going to oppose itself to the G20.” According to him, “It is a single, large and complicated mechanism, and the opposition in this case would be counterproductive.”

Referring to the key challenges to which both groups pay attention, Storchak pointed to the situation in the euro area, as well as to a decline in the level of investment in the real economy sector. However, he stressed, “for the first time over the recent year we can say that the positive news from the markets exceed in number the negative” trends.

The meetings were held on the eve of the meeting of the G20 finance ministers scheduled for Friday, as well as a session of the governing bodies of the World Bank and International Monetary Fund, the main part of which will be held on Saturday. The Russian delegation at these meetings will be led by Finance Minister Anton Siluanov.

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