The Phaserl


“BRICS most important element of global governance”

from The BRICS Post:

Moscow has prioritised “efforts to transform the BRICS into one of the most important elements of the system of global governance” as part of a major foreign policy impetus, said the Russian Foreign ministry on Saturday.

“Crucial progress towards this goal has been made during the Fortaleza Summit (July 15-16)- the decision to establish a multilateral framework of the association of financial institutions – a New Development Bank and a contingent of foreign exchange reserves with a total resource of $200 billion,” said a Russian Foreign Ministry statement on Saturday outlining the major foreign policy events in 2014.

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