June 21, 2012 / 11:11 AM / 8 years ago

Russia's Putin urges action on IMF reform

ST PETERSBURG, Russia (Reuters) - The world’s leading economies should act to reform the International Monetary Fund to reflect shifts in economic power, Russian President Vladimir Putin said on Thursday.

“We need to move from declarations to real reform of the International Monetary Fund and other financial institutions that reflect the real distribution of economic forces,” Putin said in an address to a financial forum.

The Russian leader spoke after returning from a Group of 20 summit at which the so-called BRICS nations - Brazil, Russia, India, China and South Africa - pledged $75 billion to the IMF in return for promises for a greater say in its decision making.

Reporting by Douglas Busvine, Editign by Timothy Heritage

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