BRICS sepulta hegemonia EUA-Europa: 100 bilhões, fundo anti- crise. Ocidente resta irrelevante.
A new global bank is being born in South Africa - where the world's top emerging economies are meeting. The new financial powerhouse would be a direct challenger to the World Bank and the IMF - both dominated by the US. Brazil, Russia, India, China and South Africa also green-lighted a new, mammoth crisis fund - and hinted they would ditch the dollar.
The ‘big five’ of the developing world, the BRICS nations, have agreed to create their own version of the World Bank at their fifth annual summit, which kicked off Tuesday in sunny Durban, South Africa. The five BRICS states agreed to establish the BRICS Development Bank, South African Finance Minister Pravin Gordhan said on Tuesday. The move is linked to the developing world’s disillusionment with the status quo of world financial institutions. The World Bank and IMF continue to favor US and European presidents over BRICS nations, and in 2010, the US failed to ratify a 2010 agreement which would allow more IMF funds to be allocated to developing nations. "Not long ago we discussed the formation of a developmental bank... Today we are ready to launch it," South African President Jacob Zuma said on Monday. The ‘big five’- Brazil, Russia, India, China, and its newest addition, South Africa, come together for the annual conference this year in Durban, South Africa in hopes of establishing a new development bank which will fund infrastructure and development projects in the five member states, and will pool foreign currencies to fend off any impending financial crisis.
