BRICS calls for fairer governance

Five leaders, meeting informally ahead of summit in Hangzhou, pursue equity for developing countries, emerging economies

Leaders of BRICS countries on Sunday urged the International Monetary Fund to reassign quota and voting rights to ensure that the IMF "fairly" reflects the "status of emerging markets and developing countries".

The leaders - representing Brazil, Russia, India, China and South Africa, made the call during an informal meeting ahead of the G20 Summit. The five countries are also members of the G20.