HORSHAM, England, March 13 (Reuters) - The collapse of private capital this year is likely to continue into 2010, making it imperative that international financial agencies step up their lending, the world's largest emerging economies said on Friday.
Issuing their first-ever communiqué at a G20 finance ministers' meeting, Brazil, China, Russia and India called for a bigger voice on international bodies - signaling their growing political resolve to influence global affairs.
An increasing number of emerging markets are facing capital flight - and with it severe economic distress -- as the global financial crisis causes international banks and investors to concentrate lending on repairing their balance sheets and lending at home.
"It is imperative that multilateral financial institutions should expand their lending to offset the massive decline," the four countries, known as the BRICs, said.