‘BRICS should call for UNSC reforms’

In a statement issued at the plenary session of the fourth BRICS summit held in New Delhi on Thursday, Indian Prime Minister Manmohan Singh said the group’s member states must “work together to address deficiencies in global governance.”

“Institutions of global political and economic governance created more than six decades ago have not kept pace with the changing world. While some progress has been made in international financial institutions, there is lack of movement on the political side. BRICS should speak with one voice on important issues such as the reform of the UN Security Council,” the statement said, adding the developing countries need “access to capital… for infrastructure development.”

The BRICS countries must “address the important issue of expanding the capital base of the World Bank and other multilateral development banks to enable these institutions to perform their appropriate role in financing infrastructure development,” the statement added.

Brazilian President Dilma Rousseff, Russian President Dmitry Medvedev, Chinese President Hu Jintao and South African President Jacob Zuma attended the BRICS summit in India on Thursday.

HSN/AZ/MA

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