BRIC meeting boosts Medvedev 'clout'

rJune 16 (Bloomberg) — The leaders of Brazil, Russia, India and China agreed to push for more clout in global financial institutions at an “historic” first summit, without announcing a common policy on how to flex their $2.8 trillion in reserves. The heads of the so-called BRIC states called for emerging economies to have a “greater voice and representation in international financial institutions” and for a “more diversified” global monetary system. The comments were made in a joint statement released to reporters after the meeting today.

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