Comments
Strongly condemning the recent terror attacks in India and other BRICS nations, the five-nation powerful grouping today asked all countries to prevent “terrorist actions” from their soil and called for expeditious adoption of an India-backed global convention by the UN to fight the menace effectively.
A declaration adopted at the annual summit of grouping of Brazil, Russia, India, China and South Africa called upon all nations to adopt a comprehensive approach in combating terrorism, violent extremism, radicalisation, recruitment, movement of terrorists including foreign terrorists and blocking sources of financing terrorism.
It asked all nations to work together to expedite the adoption of the Comprehensive Convention on International Terrorism (CCIT) in the UN General Assembly without any further delay.
“We strongly condemn the recent several attacks, against some BRICS countries, including that in India. We strongly condemn terrorism in all its forms and manifestations and stressed that there can be no justification whatsoever for any acts of terrorism, whether based upon ideological, religious, political, racial, ethnic or any other reasons.
“We agreed to strengthen cooperation in combating international terrorism both at the bilateral level and at international fora,” the Goa declaration issued at the end of the Summit said.
Earlier, Prime Minister Narendra Modi called for decisive action to deal with terrorism and described Pakistan as a mothership of global terrorism.
In the declaration, the BRICS said it reaffirmed commitment to the FATF (Financial Action Task Force) international standards on combating money laundering and the Financing of Terrorism and Proliferation.
The FATF is an intergovernmental organisation founded in 1989 on the initiative of the G7 to develop policies to combat money laundering. In 2001 the purpose expanded to act on terrorism financing. It also called for swift, effective and universal implementation of FATF on combating terrorist financing, including effective implementation of its operational plan.
Quota-based IMF
Meanwhile, BRICS nations have sought a strong, quota—based and adequately resourced IMF to bridge the financing gap in infrastructure development to push economic growth in developing nations.
“We reaffirm our commitment to a strong, quota-based and adequately resourced International Monetary Fund (IMF). Borrowed resources by the IMF should be on a temporary basis,” stated the Goa Declaration.
Highlighting the importance of public and private investments in infrastructure, including connectivity,to ensure sustained long-term growth, the leaders of the five nation grouping called for approaches to bridge the financing gap in infrastructure including through enhanced involvement of Multilateral Development Banks.
The leaders of Brazil, Russia, India, China and South Africa strongly committed to support the coordinated effort by the emerging economies to ensure that the new quota formula will be finalised within the agreed timelines.
This, they said, will ensure that the increased voice of the dynamic emerging and developing economies reflects their relative contributions to the world economy, while protecting the voices of least developed countries (LDCs), poor countries and regions.
BRICS nations welcomed the inclusion of the RMB (Chinese currency) into the Special Drawing Rights (SDR) currency basket on October 1, 2016.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.