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The Finance Ministers of BRICS countries Brazil, Russia, India, China and South Africa on Thursday said they are open to the idea of providing support through the International Monetary Fund (IMF) or other financial institutions to address global economic challenges.
"We underscored the continuing need to maintain international policy coordination and coordination through the G-20," said the communiqu issued on the sidelines of the annual meeting of the International Monetary Fund and the World Bank.
"We also expressed our concern over the slow pace of quota and governance reforms, including in the area of surveillance in the IMF, and for the need for multilateral development banks to mobilise more resources for low income and developing countries," Indian Finance Minister Pranab Mukherjee said at a press conference addressed by the BRICS finance ministers.
Responding to questions, Mukherjee said the issue was raised and the consensus was that there should be serious efforts made by Europeans and others of the international community.
"BRIC will be part of that consensus building and BRICS will contribute its own might and its own contribution to resolve the crisis along with G-20
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