Chidambaram leaving for Moscow to attend G20 ministerial

Finance Minister P Chidambaram will leave early tomorrow on a two-day visit to Moscow to attend the G20 ministerial meeting that will deliberate upon the current economic situation and the quota reforms of the International Monetary Fund (IMF) among other issues.
The G20 meeting of the finance ministers and central bank governors beginning July 19 will also be attended by RBI Governor D Subbarao and Deputy Governor Urjit Patel.
The finance ministers of BRICS member countries are also scheduled to meet on the sidelines of the G20 ministerial meeting as a follow up of the Durban Summit earlier in March, official sources said.

"The G20 meeting will discuss the framework of the quota reforms in the IMF and also delve on the global macro economic situation," an official said.
The finance ministers of Brazil, Russia, India, China, South Africa, commonly called BRICS, had in March agreed on the setting up of a development bank to fund infrastructure and development projects in the five-nation grouping of emerging powers.
G20, which has been on the forefront to collectively deal with the global economic slowdown, is a club of 20 developed and developing nations, including US, Canada, Brazil, Saudi Arabia, UK, Russia, Japan, Australia and South Korea.

The meeting of the Finance Ministers and central bank Governors would be followed by G20 Summit to be held at St Petersburg on September 5-6.