Brics demand "broad-based" international reserve currency system


At a summit on the southern Chinese island of Hainan, dignitaries from Brazil, Russia, India, China and South Africa (Brics) said the international financial crisis had "exposed the inadequacies and deficiencies of the existing international monetary and financial system", which has the US dollar at its core.

As reported on Xinhua News, the official press agency of the government of the People's Republic of China, a joint statement was released by the countries following Thursday's meeting.


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