BRICS Summit 2012 — Dropping US dollar, IMF & aid to Syria
By Anne Sewell
Mar 29, 2012 in World
New Delhi – At a meeting of the world’s 5 leading emerging economies, many issues were raised including stepping away from the Dollar as a reserve currency and reform of the IMF. Humanitarian aid to Syria was also discussed.
RT advises that the 4th BRICS summit wrapped up in India on Thursday. The world’s 5 leading emerging economies were represented at the summit – Brazil, Russia, India, China and South Africa.
Among the many subjects discussed by the leaders were the creation of an alternative global lender and dropping the U.S. Dollar as a reserve currency. The leaders believe that institutions like the IMF (International Monetary Fund) and the World Bank have now “outlived their usefulness” and the creation of a alternative global lender would be the way to go.