Thanks Kauilapele for bringing us more information about the upcoming BRICS Summit in Brazil.
As the last post queried (and answered), “How do you build a new banking system, not connected to the Fed, the IMF, or the World Bank? Build it with BRICS.”
This article is entitled “South American leaders to attend 6th BRICS Summit“, but it addresses many of the items to be discussed at the 6th BRICS Summit.
A few key points (in my mind) from this article:
“The $100 billion Contingency Reserve Arrangement (CRA) will be launched at this year’s Summit and final details of the New Development Bank (NBD) will also be unveiled.
“Brazilian Ambassador José Alfredo Graça Lima addressing a press conference in Brasilia on Tuesday said the keenly awaited BRICS Bank will finance infrastructure and sustainable development projects.
“Developing nations have long complained that the World Bank and International Monetary Fund are failing to address underdevelopment and Western nations have too much say over…
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