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Bric summit ends in China with plea for more influence
Date: 4/15/2011 8:42:39 AM Sender: BBC
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The leaders of the so-called Bric emerging economies have called for more influence - including Russia's speedy entry to the World Trade Organisation (WTO).

The Bric countries are some of the world's fastest-growing economies - China, India, Brazil and Russia.

South Africa is attending the group's annual summit for the first time.

As well as the WTO call, the group has asked for certain changes to the global financial system.

These include a call for the International Monetary Fund to expand its use of Special Drawing Rights (SDRs), which are used as a quasi currency to transfer funds between member governments.

The Brics called for a broad-based international reserve currency system "providing stability and certainty".

A joint communique, termed the Sanya Declaration, said the current system was no longer representative.

"The governing structure of the international financial institutions should reflect the changes in the world economy, increasing the voice and representation of emerging economies and developing countries," it said.



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