Press Information Bureau

Government of India

Ministry of Finance

16-September-2011 20:28 IST

India Convenes meeting of BRICS Finance Ministers in Washington DC on September 22, 2011;

BRICS to Coordinate in addressing the Evolving Economic And Financial Situation In The Various Countries: Says Finance Minister

The Union Finance Minister Shri Pranab Mukherjee said that India is convening a meeting of BRICS Finance Ministers in Washington DC on September 22, 2011 on the sidelines of the Fund-Bank and G-20 Meetings. The Finance Minister said that we would explore the manner in which BRICS could coordinate in addressing the evolving economic and financial situation in the various countries of the world. The Finance Minister Shri Mukherjee said that the objective of the meeting is to discuss our concerns regarding the current state of the Global Economy and our Policy Response. Shri Mukherjee said that we will discuss the progress on the report commissioned by India on the role that BRICS can play in the global economy going forward, and also our role in the international financial institutions such as IMF and the World Bank.

DSM/SS

BRICS coordination to shape collective policy responses and engagement with international financial institutions. India convenes a meeting of BRICS finance ministers to coordinate collective responses to the evolving global economic and financial situation, discuss shared concerns about the global economy and policy responses, review progress on an India-commissioned report on BRICS' prospective role in the global economy, and consider BRICS' engagement with international financial institutions including consultative approaches toward institutions such as the IMF and the World Bank.