IMF: Russia needs economic reforms

Russia needs to promote economic reforms including the energy sector, said Min Zhu, Deputy Managing Director of the International Monetary Fund. He specified that there are recommendations for every BRICS country, RIA Novosti reports.

Min Zhu was speaking at conference on doing business with BRICS countries hosted by the Russian Embassy in the United States. He also said that China needs to change its national currency rate, India needs to draw investments, while Brazil should restore competitiveness and South Africa restructure its economy.