Marion Gil |News Editor| This week, fives countries are seeking to launch their own versions of the World Bank as well as their own International Monetary Fund (IMF). Brazil, Russia, India, China and Africa, collectively called the BRICS countries, are attempting to launch these international financial plans as a way to give emerging economies around the world an alternative to Western dominated financial loans, according to the Associated Press. The first plan suggested by the countries is their own version of the IMF called the Contingent Reserve Arrangement, which will be a $100 billion fund they claim will be dedicated to fighting international financial crises. The … [Read more...] about Debate on a modified World Bank
Recent Comments