BRICS
BRICS Build New Architecture for Financial Democracy
By Mario Osava FORTALEZA, Brazil, Jul 16 2014 (IPS) – The BRICS alliance (Brazil, Russia, India, China and South Africa) launched the New Development Bank (NDB) and Contingency Reserve Arrangement (CRA) during its sixth summit, institutionalising a new financial architecture…
BRICS Countries Launch Development Bank Alternative to U.S.-Dominated System
A group of five countries have launched their own development bank to challenge the U.S.-dominated World Bank and International Monetary Fund. Leaders from the so-called BRICS countries — Brazil, Russia, India, China and South Africa — unveiled the New Development…
BRICS Presidents Begin Crucial Summit in Brazil
Fortaleza, Brazil, Jul 15 (Prensa Latina) The presidents of the country members of BRICS (Brazil, Russia, India, China and South Africa) began here today its Sixth Summit, to design new financial structures: a Development Bank and a Reserve Fund. Shortly…
BRICS Summit draws clear red lines on Syria, Iran
The BRICS just became impossible to ignore. At the close of the Fifth annual BRICS Summit in Durban, South Africa last week, there was little question that this group of five fast-growing economies was underwriting an overhaul of the global economic and…
Statement by BRICS Leaders on the establishment of the BRICS-Led Development Bank
We, the Leaders of Brazil, Russia, India, China and South Africa met on the occasion of the Fifth BRICS Summit on 27 March 2013 in eThekwini, KwaZulu-Natal. We considered that developing countries face challenges of infrastructure development due to insufficient…
New BRICS bank to rival World Bank, IMF
The BRICS group of emerging economies has unveiled a new development bank, which is aimed at breaking the monopoly held by Western-backed institutions. “It’s done,” said Pravin Gordhan, South African Finance Minister, on Tuesday, adding that “we made very good…
BRICS to create their own bank to rid themselves of the US dollar
The countries of the BRICS group (Brazil, Russia, India, China and South Africa) are planning to create their own Development Bank at the end of March with the goal of investing in internal, sustainable infrastructure and development projects without having…
Russia and China: Arms around the Middle East
Russia and China have drawn a great deal of censure this past year for resisting UN Security Council resolutions to intervene in the domestic affairs of Syria and Iran. Why, many ask, would this duo leverage their growing global political…
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