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BRICS countries set to create their own bank

Emerging nations meeting in Brazil expected to create financial institution to counter influence of IMF and World Bank.

Last updated: 15 Jul 2014 03:49
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The five leaders of the group of nations known as the BRICS are holding their sixth annual meeting in Brazil.
 
Brazil, Russia, India, China and South Africa represent the world's most powerful emerging economies, and expectations are high that they will establish a new financial institution to counter the influence of the World Bank and International Monetary Fund.
 
AL Jazeera's Gerald Tan reports.

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Al Jazeera
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