[QODLink]
Americas

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
Email Article
Print Article
Share article
Send Feedback

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.

62

Source:
Al Jazeera
Email Article
Print Article
Share article
Send Feedback
Topics in this article
People
Country
Organisation
Featured on Al Jazeera
Muslim volunteers face questioning and threat of arrest, while aid has been disrupted or blocked, charities say.
Six months on, outrage and sorrow over the mass schoolgirl abduction has disappeared - except for families in Nigeria.
ISIL combatants seeking an 'exit strategy' from Mideast conflict need positive reinforcement back home, analysts say.
European nation hit by a wave of Islamophobia as many young fighters join ISIL in Syria and Iraq.
Featured
Lacking cohesive local ground forces to attack in tandem, coalition air strikes will have limited effect, experts say.
Hindu right-wing groups run campaign against what they say is Muslim conspiracy to convert Hindu girls into Islam.
Six months on, outrage and sorrow over the mass schoolgirl abduction has disappeared - except for families in Nigeria.
Muslim caretakers maintain three synagogues in eastern Indian city, which was once home to a thriving Jewish community.
Amid fresh ISIL gains, officials in Anbar province have urged the Iraqi government to request foreign ground troops.