BRICS promises faster economic recovery

Leaders have promised at the end of the Summit in India today that they will speed up the recovery of the world economy and step up the fight against terrorism and extremism that pose a threat to regional and international peace and stability. At the end of a two-day summit in the southwest Indian state of Goa, leaders of Brazil, Russia, India, China and South Africa adopted a declaration stating their commitment to combating the financing of terrorist groups and their supply of weapons and other equipment

“We agree that those who nurture, protect and support the forces of violence and terrorism pose the same threat as the terrorists themselves,”

“In order to further overcome the gap in global financial architecture, we have agreed to accelerate the establishment of the BRICS agency for credit rating,”

In the world of new security challenges and economic insecurity

In the world of new security challenges and economic insecurity

The BRICS countries, which account for almost half of the world’s population and a quarter of the global economy, with a total gross domestic product of 16.6 trillion dollars, stressed the commitment to accelerating economic recovery by investing in infrastructure projects and production, and agreed on combating economic crime, first of all avoiding taxes, money laundering and corruption.

Leaders have adopted three agreements, two of which refer to the formation of separate research networks for the development of agriculture and railways.


Lagarde said that the world economy faces a potentially toxic mix of long-lasting low growth and rising inequality, creating political temptations that drive populism and raising trade barriers.

  • Analysts say

    However, that at the G20 summit, probability will not be achieved, given the absence of a crisis that could “force” governments to take action.

  • The IMF chief added that the world faces

    A “low-growth trap”, which is characterized by high debt, poor demand, a drop in workforce and their skills, a weakening of investment incentives and a slowdown in productivity.

  • In a report on global economic conditions for members

    The lead author of the report, IMF economist Helge Berger, told reporters in Washington that it is expected that this financial institution will lower its forecast of US growth in light of the weak indicators recorded in the first half of this year.

It is certain that in the US

In the G20 report, the IMF recalled that the G20 leaders promised in 2014 that they would raise their total GDP by 2.0 percent by 2018. However, by the year 2016, the G20 had only implemented 55 percent of the commitments they had taken at that time, which speaks of the “lack of decisive action measures”.

More progress is urgently needed

called for new fiscal and monetary measures to support growth, such as public investment in education, a more equitable tax and fee regime, and a reduction in private sector debt.

The United States handed the title of the most competitive world economy