BRICS to create common development bank

Garibov Konstantin

23.03.2012, 19:01

The BIRCS group of states may create a common development bank. The idea was put forward by India during a meeting of the BRICS finance ministers and central bank chiefs in Mexico and is likely to get further scrutiny at the upcoming BRICS summit in New Delhi, due on March 28-29. The BIRCS group of states may create a common development bank. The idea was put forward by India during a meeting of the BRICS finance ministers and central bank chiefs in Mexico and is likely to get further scrutiny at the upcoming BRICS summit in New Delhi, due on March 28-29.Boris Shmelyov, director of the Center for Political Studies of the Russian Academy of Sciences Economy Institute, deems it as a logical and timely move that will make the BRICS format more institutionalized. Читать далее Source: Voice of Russia.

BRICS prepares world banking revolution

Kasho Natalya

28.02.2012, 14:49

BRICS member-states are preparing a world banking revolution. They are planning to nominate an alternative candidate for the post of the Chairman of the World Bank for the first time in history. BRICS also demands redistribution of quotas in the International Monetary Fund in the near future and intends to study India’s initiative on creating a South-South Bank. BRICS member-states are preparing a world banking revolution. They are planning to nominate an alternative candidate for the post of the Chairman of the World Bank for the first time in history. BRICS also demands redistribution of quotas in the International Monetary Fund in the near future and intends to study India’s initiative on creating a South-South Bank. Representatives of Brazil, Russia, India, China and South Africa proposed a reform of the world financial system at their meeting in Mexico City which took place during the conference of G20 finance ministers and heads of central banks. Читать далее Source: Voice of Russia.