Emerging nations to discuss aid to Europe
Emerging economies which make up the BRICS group will discuss possible aid to the European Union to help it confront its debt crisis, Brazilian Finance Minister Guido Mantega said Tuesday.
"The BRICS nations will meet next week in Washington and we will discuss how to help the European Union get out of this situation," he said. The BRICS nations comprise Brazil, Russia, India, China and South Africa.
The Brazilian finance minister will be in Washington next week along with many of his counterparts from around the world for the annual meetings of the International Monetary Fund and World Bank. A BRICS meeting is set for September 22.
In what would be a reversal of roles, the leading emerging economies, which in recent years have been growing faster than the major industrialised nations, were expected to put forth a plan to help stabilize the global economy, according to the Brazilian financial daily Valor.
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