"RICS 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.
BRICS financiers are annoyed with the private rule that the head of the World Bank is always a representative of the US. They believe that candidates should be assessed based on their merits and not citizenship. BRICS member-states are convinced that it is essential to create competition for the US candidate, either from a BRICS country or from Europe. It has been decided to prepare a declaration on a coordinated position on this subject in the next two weeks. Candidates for the post of the head of the World Bank should be determined by the 23rd of March.
On the 29th of March BRICS leaders are expected to launch the mechanism of coordinating opinions on India’s proposal to create a South-South Bank. It is to become a support institution for countries with developing markets. BRICS member-states will be playing the main role in it, according to the quotas of votes..."
at http://www.voltairenet.org/BRICS-prepares-world-banking
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.
BRICS financiers are annoyed with the private rule that the head of the World Bank is always a representative of the US. They believe that candidates should be assessed based on their merits and not citizenship. BRICS member-states are convinced that it is essential to create competition for the US candidate, either from a BRICS country or from Europe. It has been decided to prepare a declaration on a coordinated position on this subject in the next two weeks. Candidates for the post of the head of the World Bank should be determined by the 23rd of March.
On the 29th of March BRICS leaders are expected to launch the mechanism of coordinating opinions on India’s proposal to create a South-South Bank. It is to become a support institution for countries with developing markets. BRICS member-states will be playing the main role in it, according to the quotas of votes..."
at http://www.voltairenet.org/BRICS-prepares-world-banking
No comments:
Post a Comment