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BRICS countries are preparing for the establishment of a development bank
11/17/2014 0:00
Aspires to raise the representation within the global financial governance
Brisbane - a. P. With
Showed the five member states of the emerging BRICS group on the sidelines of the Group of Twenty summit desire to strengthen cooperation and accelerate the establishment of its own bank for development with the ambition to have a better representation in global financial governance.
Agreed Brazil, Russia, India, China and South Africa last July to set up a development bank and an emergency reserve fund, to be parallel to the World Bank and the International Monetary Fund.
On the sidelines of the leaders of the Group of Twenty summit in Brisbane, Australia, Brazilian President Dilma Rousseff said b »importance» of these initiatives «to face the difficulties of the international economic situation».
She stressed to say when receiving Chinese counterparts Xi Jinping and Russian President Vladimir Putin and South African President Jacob Zuma and Indian Narendra Modi, «get to the end of 2014 with a disappointing expectations about the recovery of the global economy».
Rousseff was considered that the establishment of the Development Bank of the BRICS countries with a capital of $ 50 billion, mainly for »to strengthen the economic and financial role».
The Amplified partners in the same direction until they called to accelerate preparations for the establishment of Almassh.oukal Chinese Vice Finance Minister Joe Guangyaw «that everyone agrees to say: he must go at a fast pace to set up the bank as soon as possible», adding that «each country needs to identify projects realism that require support in order to be able to bank on the spot immediately after the start of Tamoalath launch. »
He said the Indian Prime Minister for his part b »target launch the bank in 2016», said «that our candidate for the presidency of the bank will be called soon» .okan BRICs agreement in July surprised Western embassies that questioned their ability to overcome their differences.
In fact, states «emerging giant» which has long been the engine of the world economy, are tracking very different ways.
The Chinese economy is still solid, but recorded a significant slowdown, while India's economy is accelerating and recorded its highest level in two years in the first quarter, but Russia is suffering from a recession in which sanctions contribute because of the Ukrainian crisis and the deterioration of oil prices.
But all of them face the consequences of ending the loose monetary policy of the International Monetary Fund, which caused an influx of capital has now lead to the return of some of them.
In all cases, the BRICs share a great ambition to get the role of the level of economic weight in global financial governance see themselves as representatives of the non-properly.
He Narendra Modi to «that this bank confirms our collective ability to create and manage an effective international organizations».
It is hardly criticize the non-padded to the International Monetary Fund and the World Bank, which Tassa seventy years ago and faced regular criticism for their inability to reverse the growth of the major emerging economies.
China and the second economy in the world still have the weight of the part is almost bigger than Italy within the International Monetary Fund, which is headed not only with the Europeans or Amirkyin.oshdd Joe Guangyaw on «and that emerging markets should be better represented in the structures of global governance», adding «We have given a very clear request (which) we want the United States to ratify as soon as the reform of the governance of the International Monetary Fund.» What is the reason to delay it more. »
Under the reform of the International Monetary Fund, which approved the plan in 2010, doubling the permanent re-balance its resources and its governance, but to begin its implementation depends on the approval of the US Congress, which hampered by Republican opposition.
Bretton Brix may allow them to strengthen pressure -lkn They could not be the opinion of everyone to solve the place of the current global system, especially that their money is limited and their expertise is not sufficient, as well as the dominance of China's potential disturbing.
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11/17/2014 0:00
Aspires to raise the representation within the global financial governance
Brisbane - a. P. With
Showed the five member states of the emerging BRICS group on the sidelines of the Group of Twenty summit desire to strengthen cooperation and accelerate the establishment of its own bank for development with the ambition to have a better representation in global financial governance.
Agreed Brazil, Russia, India, China and South Africa last July to set up a development bank and an emergency reserve fund, to be parallel to the World Bank and the International Monetary Fund.
On the sidelines of the leaders of the Group of Twenty summit in Brisbane, Australia, Brazilian President Dilma Rousseff said b »importance» of these initiatives «to face the difficulties of the international economic situation».
She stressed to say when receiving Chinese counterparts Xi Jinping and Russian President Vladimir Putin and South African President Jacob Zuma and Indian Narendra Modi, «get to the end of 2014 with a disappointing expectations about the recovery of the global economy».
Rousseff was considered that the establishment of the Development Bank of the BRICS countries with a capital of $ 50 billion, mainly for »to strengthen the economic and financial role».
The Amplified partners in the same direction until they called to accelerate preparations for the establishment of Almassh.oukal Chinese Vice Finance Minister Joe Guangyaw «that everyone agrees to say: he must go at a fast pace to set up the bank as soon as possible», adding that «each country needs to identify projects realism that require support in order to be able to bank on the spot immediately after the start of Tamoalath launch. »
He said the Indian Prime Minister for his part b »target launch the bank in 2016», said «that our candidate for the presidency of the bank will be called soon» .okan BRICs agreement in July surprised Western embassies that questioned their ability to overcome their differences.
In fact, states «emerging giant» which has long been the engine of the world economy, are tracking very different ways.
The Chinese economy is still solid, but recorded a significant slowdown, while India's economy is accelerating and recorded its highest level in two years in the first quarter, but Russia is suffering from a recession in which sanctions contribute because of the Ukrainian crisis and the deterioration of oil prices.
But all of them face the consequences of ending the loose monetary policy of the International Monetary Fund, which caused an influx of capital has now lead to the return of some of them.
In all cases, the BRICs share a great ambition to get the role of the level of economic weight in global financial governance see themselves as representatives of the non-properly.
He Narendra Modi to «that this bank confirms our collective ability to create and manage an effective international organizations».
It is hardly criticize the non-padded to the International Monetary Fund and the World Bank, which Tassa seventy years ago and faced regular criticism for their inability to reverse the growth of the major emerging economies.
China and the second economy in the world still have the weight of the part is almost bigger than Italy within the International Monetary Fund, which is headed not only with the Europeans or Amirkyin.oshdd Joe Guangyaw on «and that emerging markets should be better represented in the structures of global governance», adding «We have given a very clear request (which) we want the United States to ratify as soon as the reform of the governance of the International Monetary Fund.» What is the reason to delay it more. »
Under the reform of the International Monetary Fund, which approved the plan in 2010, doubling the permanent re-balance its resources and its governance, but to begin its implementation depends on the approval of the US Congress, which hampered by Republican opposition.
Bretton Brix may allow them to strengthen pressure -lkn They could not be the opinion of everyone to solve the place of the current global system, especially that their money is limited and their expertise is not sufficient, as well as the dominance of China's potential disturbing.
[You must be registered and logged in to see this link.]
