G-20-INDIA 2 LAST

BRIC finance ministers at their recent meeting in London
urged counterparts from the Group of 20 largest and
fastest-emerging economies to rid the world's economic
architecture of systemic weaknesses that helped trigger the
global crisis.

They have sought a seven percent shift of IMF quotas
towards developing countries and emerging markets after
lending their support to G-20 plans to triple the
institution's lending capacity to USD 750 billion.

the BRIC nations--Brazil,Russia, India, China-- and South
Africa are of the view that money is a key sticking point in
fighting climate change, with rich economies expected to find
funds to help poorer nations buy clean technology and cope
with increased droughts, floods and rising seas.

With the summit expected to send a strong political
message to combat global warming, India is of the view that
long-term measures have to take centrality of the need of the
developing countries.

The G20 countries account for 90 per cent of global GDP,
80 percent of global trade and are home to two-third of the
world's humanity. PTI