IMF Says Supports Improved International Cooperation, Including Desire to Join BRICS
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WASHINGTON (Sputnik) – The BRICS bloc, which currently includes Brazil, Russia, India, China, and South Africa, accounts for nearly a third of the world's GDP and about 40% of the world's population.
The International Monetary Fund (IMF) supports improved international cooperation, including countries’ desire to join BRICS, IMF spokesperson Julie Kozack said on Thursday.
"Improved and expanded international cooperation and deepening trade and investment ties among groups of countries, including, for example, the BRICS, is something that we welcome and we encourage, as long as they aimed at reducing market fragmentation, enhancing trade, reducing investment costs," Kozack told reporters.
However, Kozack noted that the IMF urges to avoid the fragmentation of the global economy.
"We believe that would be costly for the global economy," she added.