BRICS signed an agreement on the pool of foreign exchange reserves

Almaty. July 8. Silkroadnews - The central banks of Brazil, Russia, India, China and South Africa signed an agreement in Moscow on the terms of mutual support of member countries in the framework of the agreement on the pool of foreign exchange reserves, says the newspaper "Izvestia".
"The purpose of the pool is the mutual granting of the BRICS banks the funds in case of problems with dollar liquidity. Thus, the creation of a mechanism aimed at maintaining financial stability of the Member States",- said in a statement.
The total volume of the pool is set at $100 billion as following: China - $41 billion, Brazil, India and Russia - $18 billion, South Africa - $5 billion.
Agreement on the establishment of a pool of conventional foreign exchange reserves of the BRICS countries was signed on July 15, 2014 at the Summit in the city of Fortaleza in Brazil.