Moscow, Sep 16 (IANS): BRICS, a bloc of the world's five leading emerging economies, has evolved from a club to an efficient platform for discussing key global issues, Russian Prime Minister Dmitry Medvedev said on Wednesday.

"Today, it is a real working platform where we can coordinate positions on various issues," Medvedev told a press conference held after a meeting of a Russian-Brazilian cooperation commission, Xinhua reported.

Both countries are BRICS members, with the other three being India, China and South Africa.

"The world is in a phase of instability. ... All of this calls for a maximally consolidated position," he said.

Noting that the New Development Bank set up by BRICS countries opens broad possibilities for joint projects, he said: "We are now negotiating the setup of a joint pool of currencies, which in certain situations could protect our economies from the adverse external impact and other risks."

BRICS countries - Brazil, Russia, India, China and South Africa - make up 40 percent of the world population and account for more than 25 percent of global GDP.

Russia holds the rotating presidency of the bloc this year.