BRICS Seek World Bank Rival

Investor's Business Daily
April 2013
Investors Business Daily;4/ 1/2013, pB02
10 Brazil, Russia, India, China and S. Africa agreed to set up an infrastructure fund as an alternative to the U.S.-dominated World Bank, but they left out key details like the amount of capital it would have. They also agreed to explore pooling $100 bil in central bank reserves to rival the Int'l Monetary Fund. China and Brazil will swap currencies to reduce U.S. dollar reliance in int'l trade.


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