Medvedev calls for BRIC currencies in IMF's SDR

The BRICs are Brazil, Russia, India and China.

Medvedev calls for BRIC currencies in IMF's SDR

Russian President Dmitry Medvedev called on the International Monetary Fund on Wednesday to include the currencies of the leading emerging markets, known as BRICs, in the IMF's special drawing rights.

He also said the Russian government would refrain from imposing any new taxes on the financial sector to encourage the inflow of investments in the country.

The BRICs are Brazil, Russia, India and China. The IMF has just completed a review of its global accounting unit and did not include any of their currencies in the basket of developed economy currencies used to calculate its value, mainly because the Chinese yuan is not convertible.


Reuters

Last Mod: 27 Ocak 2011, 12:54
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