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BRICS credit rating agency
April 30 , 2018
2449 days
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- India has pressed the BRICS nations to set up an independent rating agency of the five-member group.
- The first meeting of the BRICS Finance Ministers and Central Bank Governors was held on the sidelines of the IMF/World Bank Spring Meetings.
- India had first mooted the idea of having such an agency for the BRICS (Brazil, Russia, India, China, South Africa) grouping to solve impediments for the emerging market economies.
- At present the dominated credit rating agency in emerging market economies are S&P, Moody's and Fitch.
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