Sergei Ryabkov: Russia to insist on World Bank and IMF reforms at BRICS summit
"We are drafting an important economic document for the Ufa summit. It is currently going through finalisation and approval," Deputy Foreign Minister and Russia's BRICS Sherpa Sergei Ryabkov told journalists. "We will insist on stepping up the reforms of the International Monetary Fund and the World Bank," he said, justifying the need for the reforms by the change in the alignment of forces in the world economy.
"Regrettably, Washington is blocking these reforms. At the Ufa summit and subsequent events, including the G20 forum in Antalya in November, where BRICS is likely to hold its own event, like it did in Brisbane, we will use every opportunity to encourage our BRICS partners to step up their efforts towards this objective," Mr Ryabkov said. He expressed the hope that the New Development Bank and the Contingency Reserve Arrangement will be launched during Russia's Presidency in BRICS, which started in April.
Mr Ryabkov said the Ufa summit will also focus on political issues, including measures to counter interference in domestic affairs of sovereign states and enhance security. "No problem is more urgent for the BRICS countries than security. The world is going through a turbulent period and we understand why this is happening. The United States and its followers have a unilateral approach that ignores the interests of sovereign states," Mr Ryabkov said, adding that the BRICS format is the best venue for joint discussion of living conditions in the changing world.