WASHINGTON — The BRICS countries — Brazil, Russia, India, China and South Africa — plan to form a working group on the creation of a joint development bank, Deputy Finance Minister Sergei Storchak said Friday, Interfax reported.
The working group will consist of "representatives of finance ministries and central banks, who should come to more specific proposals for substantive initiatives," Storchak said. The working group will address issues such as corporate governance, the structure of the bank, the procedure for decision making and its staff.
In addition, BRICS finance ministers discussed transfer pricing in Washington after India made a proposal to encourage more detailed consideration of the issue, Storchak said.
(MT)
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
