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Putin: BRICS has reason to work on strengthening its influence in IMF

November 30, 18:30 UTC+3 BUENOS AIRES

According the Russian leader, BRICS’ New Development Bank makes a significant contribution to ensuring financial stability

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BUENOS AIRES, November 30. /TASS/. The BRICS countries have reason to work on strengthening the bloc’s influence in the IMF, Russian President Vladimir Putin said on Friday.

"The Five can, for a good reason, play a more significant role in the global financial system, strive to continuation the reform of the IMF and strengthen our influence in the Fund, Putin said, speaking at the BRICS meeting on the sideline of the G20 summit.

According to him, BRICS’ New Development Bank makes a significant contribution to ensuring financial stability. This bank is already financing 26 projects of BRICS in the amount of $6.5 bln.

"We also expect the BRICS’ Fund of bonds and national currencies to start operating in 2019, which will strengthen financial and investment sustainability, as well as expand the interaction of national payment systems," Putin said.

BRICS countries are Brazil, Russia, India, China and South Africa.

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