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BRICS Nations Agree To Set Up Development Bank (rival To World Bank And IMF) - Politics - Nairaland

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BRICS Nations Agree To Set Up Development Bank (rival To World Bank And IMF) by smilyhand(m): 2:55pm On Mar 26, 2013
The BRICS grouping of emerging economies agreed Tuesday to set up a development bank that would rival Western-backed institutions, South Africa's finance minister told AFP.

BRICS consists of Fast Emerging Economics like Brazil, Russia, India, China and South Africa.

"It's done," minister Pravin Gordhan said after meeting with his counterparts from Brazil, Russia, India and China. "The leaders will announce the details," he added.

http://uk.finance.yahoo.com/news/brics-nations-agree-development-bank-112745753.html
Re: BRICS Nations Agree To Set Up Development Bank (rival To World Bank And IMF) by saintneo(m): 3:04pm On Mar 26, 2013
FTC

Just five of them will not be enough.
Re: BRICS Nations Agree To Set Up Development Bank (rival To World Bank And IMF) by Nobody: 3:22pm On Mar 26, 2013
saintneo: FTC

Just five of them will not be enough.

Besides, many of them are having economic problems presently..but its a good initiative.
Re: BRICS Nations Agree To Set Up Development Bank (rival To World Bank And IMF) by obi2661: 3:31pm On Mar 26, 2013
Similar to the call for African economic policy...its encouraging...there should be no monopoly
Re: BRICS Nations Agree To Set Up Development Bank (rival To World Bank And IMF) by 234GT(m): 9:29pm On Mar 26, 2013
IMF
Imposing Misery Forever
Re: BRICS Nations Agree To Set Up Development Bank (rival To World Bank And IMF) by MoAfrica: 11:37am On Mar 27, 2013
sheyie2007:
Besides, many of them are having economic problems presently..but its a good initiative.

You are so wrong, BRICS economies account for 25 percent of global output and 40 percent of the world's population.
Re: BRICS Nations Agree To Set Up Development Bank (rival To World Bank And IMF) by Nobody: 12:36pm On Mar 27, 2013
MoAfrica:

You are so wrong, BRICS economies account for 25 percent of global output and 40 percent of the world's population.
I'm not disputing that my friend, but if we look at it critically, only Brazil has been enjoying economic growth amongst them.. russia 0.1%(not so sweet), china dropped to 7.8% while SA Gdp growth forcast is 2.8% .. I'm not saying they can't pull it off but it's going to be challenging process..
Re: BRICS Nations Agree To Set Up Development Bank (rival To World Bank And IMF) by Rossikk(m): 12:40pm On Mar 27, 2013
sheyie2007:
I'm not disputing that my friend, but if we look at it critically, only Brazil has been enjoying economic growth amongst them.. russia 0.1%(not so sweet), china dropped to 7.8% while SA Gdp growth forcast is 2.8% .. I'm not saying they can't pull it off but it's going to be challenging process..
How can you say only Brazil has been enjoying economic growth amongst them when China's growth rate is 7.8 percent?
Re: BRICS Nations Agree To Set Up Development Bank (rival To World Bank And IMF) by Emperor007: 12:46pm On Mar 27, 2013
It would be great, if they can really get it to start running. IMF is bent on impoverishing African countries with its manipulative policies


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