State Duma to debate bill on establishing BRICS Contingent Reserve Arrangement

The Russian Government has approved a bill on ratifying the Treaty for the Establishment of a BRICS Contingent Reserve Arrangement and submitted it to the State Duma for consideration.

Russia's Deputy Minister of Finance Sergei Storchak has been appointed as the Government's official envoy during the bill's consideration by both chambers of the Federal Assembly.

Ratifying the Agreement will promote the implementation of Russia's strategic objectives in monetary and financial cooperation as part of the Concept of Russia's BRICS Presidency, including making the international monetary and financial system equitable, stable and efficient and developing privileged bilateral relations with Russia's BRICS partners.