BRICS Pushes for Fairer Financial Institutions
The BRICS countries, which comprise emerging economies, called for reforms in international financial institutions such as the International Monetary Fund and the World Bank, aiming to increase the representation of emerging market countries, especially as their share of the global economy continues to grow. Officials emphasized the importance of improving the governance of the global economy and enhancing coordination among group members to increase transparency and accountability within international financial institutions, amid growing pressures to restore their roles and meet the needs of emerging economies.
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