​BRICS say failure to enact IMF reforms damages institution’s legitimacy ― RT Business

BRICS countries’ leaders are disappointed by the US block on IMF reforms to help developing countries have more influence internationally. They called for the G20 to ratchet up pressure if America doesn’t ratify the 2010 IMF reform by the end of the year.

“The leaders have called for G20 to plan a discussion of options the IMF will present in January 2015 in case the US doesn’t ratify the 2010 reform by the end of this year," said a joint statement released by the BRICS countries at the G20 summit.

The statement also says, “The leaders have confirmed their disappointment and serious concern about violation of the 2010 IMF reforms and the impact it has on the fund’s legitimacy and trust towards it.”