Friday, March 23, 2012

BRICS to create common development bank


Garibov Konstantin
23.03.2012, 19:01
The BIRCS group of states may create a common development bank. The idea was put forward by India during a meeting of the BRICS finance ministers and central bank chiefs in Mexico and is likely to get further scrutiny at the upcoming BRICS summit in New Delhi, due on March 28-29.
The BIRCS group of states may create a common development bank. The idea was put forward by India during a meeting of the BRICS finance ministers and central bank chiefs in Mexico and is likely to get further scrutiny at the upcoming BRICS summit in New Delhi, due on March 28-29.Boris Shmelyov, director of the Center for Political Studies of the Russian Academy of Sciences Economy Institute, deems it as a logical and timely move that will make the BRICS format more institutionalized.

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