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BRICS countries need to keep G20 format, analyst says

Логотип TASS TASS 04.07.2017 TASS

MOSCOW, July 4. /TASS/. One of the main tasks that BRICS countries are facing now is to keep the format of the "Group of Twenty", the chief of the international economic organizations sector at the Economic Studies Center, Vyacheslav Kholodkov, said Tuesday.

"Keeping the "Group of Twenty" as a mechanism of solving global economic problems is a very important task for BRICS countries," he said, adding that "so far this is the only mechanism that aligns the positions of developed and developing states."

"G20 summits started after the crisis of 2008, though afterwards doubts arose whether this format is necessary, however, once there is no "Group of Twenty" only the "Group of Seven" will be left, and only western countries will decide how the global economy will develop, with the voice of developing countries remaining unnoticed once again," the expert said.

According to Kholodkov, "in order to keep it (G20), it is necessary to seek compromises on existing disputes, and to do everything possible to keep the United States in the "Group of Twenty."


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