BRICS Summit 2012 — Dropping US dollar, IMF & aid to Syria

kristy Reforming Global Finance

These two stories from Bloomberg and Digital Journal, sent to us, with our thanks, by our colleague, Gil Raiford

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.

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BRICS Gridlock and Lock Down New Delhi
By Chandrahas Choudhury Apr 3, 2012 4:32 PM ET .Tweet LinkedIn Google +1 1 Comment
Print QUEUEQ..In a related set of developments in the Indian capital of New Delhi last week, major roads were cordoned off or clogged for hours (a dangerous thing given the red-blooded Delhi driver’s reputation for road rage), Tibetan residents (and others mistaken for Tibetans) were rounded up and detained — and economists, foreign-policy analysts and naysayers came crawling out of the woodwork (or its cyberspace equivalent).

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