... financial transactions, both within the BRICS and with trading partners in third countries was emphasised. There was also support for strengthening correspondent banking relations between the BRICS countries for settlements in national currencies. The finance ministers and heads of central banks of the BRICS countries were instructed to work on this issue for the next summit; that is, they will have to report on the results within the framework of the Russian Chairmanship and the BRICS Summit in Kazan. Also noteworthy are statements about the important role of the BRICS New Development Bank in the implementation of joint investment initiatives, the creation of a Network of research centres of the BRICS ...
... point partially or fully.
Tristan Kenderdine:
US–Iran Conflict Would Strengthen China’s Position in the Middle East
China, Russia, India, Brazil, and South Africa are the founding members of the
New Development Bank
. NDB’s 2017–2021 general strategy ... ... among these six economies is long overdue. The Sr. Management of NDB can easily expand the remit of the bank by entering trade finance and project finance between these six countries alone. The bank could ask its shareholders to deploy and commit some of ...
... estimates, China is the leading country in terms of financing IDA programmes (
Table 2
).
Table 2.
The Amount of Aid Provided by BRICS Countries in 2008—2013 (million dollars in today’s prices)
Country
2008
2009
2010
2011
2012
2013
Source
Brazil
... ...
–
Brazilian Cooperation Agency (ABC)
China
1807,57
1947,65
2010,61
2841,4
–
–
Fiscal Year Book, Ministry of Finance of the People’s Republic of China
India
609,5
488,0
639,1
789,8
–
–
Annual Reports, Ministry of External Affairs, Government of India
Russia
220
789
472
514
465
609,6
OECD Development Assistance Committee, Rossotrudnichestvo
South Africa
89,2
119,5
98,4
160,5
...
The BRICS Forum is a difficult subject of analysis within the narrow framework of studying ... ... idea of challenging the hegemony of the United States was originally attributed to Russia. Moscow became the catalyst for the formation of the BRIC community towards the... ... state power. This is why the negative effects of unipolarity are valid for the world of finance as well. Establishing economic multi-polarity should be accompanied by a more...
