10 days to go before the 10th #BRICS Summit to be chaired by President Ramaphosa at the Standton ICC from 25 to 27 July under the theme “BRICS in Africa: Collaboration for Inclusive Growth & Shared Prosperity in the Fourth Industrial Revolution”. #BRICSZA https://t.co/I2jjfJWk86 pic.twitter.com/jTkGjDFoje— Department Of Labour (@deptoflabour) July 15, 2018
INTERNATIONAL - Russia is in talks with the New Development Bank, set up by the BRICS group of major emerging economies, on raising four loans worth more than $1 billion, Deputy Finance Minister Sergey Storchak told reporters in Moscow on Monday.
He said that if Russia raises loans from foreign development banks it may cut its OFZ treasury bonds programme in 2019.
Russia is a part of the BRICS group, which also includes China, Brazil, India and South Africa.