"It is critical for advanced economies to adopt responsible macro-economic and financial policies, avoid creating excessive liquidity and undertake structural reforms to lift growth," Russia, Brazil, India, China and South Africa said in a joint statement.
The leaders of the countries met at a one-day summit in the Indian capital New Delhi, and also turned their fire on the pace of reform at the International Monetary Fund (IMF). The US has yet to approve changes to voting rights at the IMF that were tabled in 2010 and would give a greater voice to those countries with growing economic muscle in the world."
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