IMF, World Bank & IFI Round-Up

Russian President Dmitri Medvedev and his Brazilian counterpart Ignacio Lula da Silva have agreed that Russia will host a summit of emerging economies scheduled to be held next year. Brazil, Russia, India and China are trying to form a counterweight against the established economies. They call their organization the BRIC group. President Medvedev is in Brazil as part of a tour of Latin America. He reached agreement with the Brazilian president on further military cooperation, but no arms deals were closed. The Russian president will travel on to visit Venezuela and Cuba.

About the author

  • Devex Editor

    Thanks a lot for your interest in Devex News. To share news and views, story ideas and press releases, please email We look forward to hearing from you.