BRICS also said to predict a new Block Guarantee Mechanism
Nathalia Garcia
BRASILIA, DF (Folhapress) – BRICS Countries have criticized the unilateral imposition of measures that affect global trade, such as increased tariffs, without citing the United States and President Donald Trump. The statement contained in the statement of the meeting of finance ministers and governors of central banks, released on Saturday (5).
“Global economy and financial markets have been increasingly subject to high uncertainties and periods of intense volatility,” says excerpt from the text, which has 20 paragraphs.
“We express our serious concerns about the unilateral imposition of trade and finance -related actions, including increasing fares and non -tariff measures that distort trade and are inconsistent with WTO (World Trade Organization) rules,” he adds.
BRICS also said it predicts a new bloc guarantee mechanism to encourage private investments in infrastructure and sustainable development. “[o mecanismo] It aims to offer personalized warranty instruments to reduce the risk of strategic investments and improve credibility in BRICS and the global south, ”he said.
According to the statement, the idea is to develop the pilot initiative throughout this year and bring to the BRICS summit next year, which will have India in the presidency.
One of the paragraphs of the statement talks about taxation. “We will continue to work together for a fair, more inclusive, stable and efficient international tax system, suitable for the 21st century,” he said.
“We reaffirm our commitment to fiscal transparency and the promotion of global dialogue on effective and fair taxation, increasing progressivity and contributing to the efforts to reduce inequality,” he added.
The statement refers to a parallel document published by the group in support of negotiations of the UN Convention on Taxation, in which it makes mention of the Super Rica-the Brazilian Presidency.
In addition to the statement, a parallel document on IMF (International Monetary Fund) governance reform was also released.
