Russian diplomat marks BRICS’s contribution to updating global financial relations

MOSCOW, May 22./TASS/. The establishment of the BRICS New Development Bank and Contingent Reserve Arrangement has been a major contribution to modernization of the system of global financial relations, Russia’s Deputy Foreign Minister Sergey Ryabkov told the BRICS Academic Forum on Friday. "Indeed, we mainly deal with economy and finance within the framework of the BRICS group of nations (Brazil, Russia, India, China and South Africa)," he said, adding that work would be continued. "We are now looking into the development of economic cooperation strategy," the top diplomat confirmed. He said he was confident that the documents to be adopted at the BRICS summit in Ufa on July 8-9 would become a new landmark in the development of the group and would help it deal with present-day challenges more efficiently and successfully. Read more