July 15, 2014 / 6:39 PM / 3 years ago

BRICS leaders create emergency reserve fund, development bank

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Brazil's President Dilma Rousseff looks on before the 6th BRICS summit in Fortaleza July 15, 2014.Nacho Doce

FORTALEZA Brazil (Reuters) - The leaders of the group of five BRICS emerging market countries signed on Tuesday a deal to create a new development bank and an emergency reserve fund, Brazil's President Dilma Rousseff announced at a summit of the group in the Brazilian city of Fortaleza.

The BRICS group consists of Brazil, Russia, India, China and South Africa.

Reporting by Alonso Soto, writing by Walter Brandimarte; Editing by Chizu Nomiyama

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