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BRICS countries reach consensus on financial cooperation

June 19, 2017 11:39 am

The finance ministers and central bank governors from the BRICS countries have reached a broad consensus on promoting practical financial cooperation, after comparing notes on the macroeconomic situation of the world. The consensus was reached at a meeting in Shanghai, their second of this year and the last before September’s BRICS Summit in the Chinese city of Xiamen. Brazil, Russia, India, China and South Africa have initiated for the first time a public-private partnership framework, and have agreed to cooperate on the convergence of their accounting standards and audit supervision.

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