BRICS Bank launched, first president to be from India!!

[Contrarian]

BRICS Development Bank launched, first president to be from India

a $100 billion crisis contingency fund, according to a joint declaration.

The new development bank's first president will be from India while the board's chairman will be Brazilian, according to the declaration released at a summit in Fortaleza, Brazil.

The bank will have an initial subscribed capital of $50 billion followed by an authorized capital of $100 billion, equally shared among Brazil, Russia, China, India and South Africa.

The Contingency Reserve Arrangement will have an initial size of $100 billion and will help countries avoid "short-term liquidity pressures, promote further BRICS cooperation, strengthen the global financial safety net and complement existing international arrangements."

The bank and fund are seen as counterweights to the Western-dominated World Bank and International Monetary Fund, which BRICS nations say need more reform to give emerging nations more voting rights.

BRICS Development Bank launched, first president to be from India - The Times of India
@Chinese-Dragon

News of the day!

 

[farhan_9909]

First Customer will be Pakistan for the funding of Basha Dam

 

[A.Rafay]

First Customer will be Pakistan for the funding of Basha Dam

India will play its monopoly again. They dont want to see anything good happen to Pakistanis.

 

[Contrarian]

New BRICS bank to be based in China, India to have presidency

New BRICS bank to be based in China, India to have presidency - The Economic Times

 

[Jackdaws]

India will play its monopoly again. They dont want to see anything good happen to Pakistanis.

Please don't be negative before any steps are taken. Remember, getting all of South Asia out of the ruinous cycle of poverty is paramount. It is far more important that building nuclear submarines and sending manned missions to Mars.

 

[JohnyD]

First Customer will be Pakistan for the funding of Basha Dam

BRICS Bank welcomes you.... ..Being our first customer you will get 1% discount on interest

India will play its monopoly again. They dont want to see anything good happen to Pakistanis.

wrong...India wont do that...in fact will never do that ...just ensure guised and disguised state actors in your country dont do any spoil sport activity!

 

[A.Rafay]

BRICS Bank welcomes you.... ..Being our first customer you will get 1% discount on interest


wrong...India wont do that...in fact will never do that ...just ensure guised and disguised state actors in your country dont do any spoil sport activity!

What is the guarantee India wont do that? If Pakistan needs help from BRICS bank in financing the Basha Dam, India will be against it for sure with your old argument that the dam is in disputed territory.

 

[JohnyD]

What is the guarantee India wont do that? If Pakistan needs help from BRICS bank in financing the Basha Dam, India will be against it for sure with your old argument that the dam is in disputed territory.

if anything is disputed then ofcourse dear, you will have to sort it out first....neither country in BRICS would like to support a loan for any disputed project.

 

[INDIC]

First Customer will be Pakistan for the funding of Basha Dam

Funds will be denied.

India will play its monopoly again. They dont want to see anything good happen to Pakistanis.

Will Pakistan come to take loan from BRICS as I believe any of such move will cause resentment due to India being a key player.

 

[JanjaWeed]

Good stuff... Congratulations to BRICS... four lads & a lady has done it! & they seems to be quite comfortable in each others company..especially Modi & Xi Jinping!

 

[livingdead]

What is the guarantee India wont do that? If Pakistan needs help from BRICS bank in financing the Basha Dam, India will be against it for sure with your old argument that the dam is in disputed territory.

india wont agree without a quid pro quo. obviously.. we are still waiting for MFN..

 

[SouthDesi]

India will play its monopoly again. They dont want to see anything good happen to Pakistanis.

Best thing for Pakistan - stop encouraging terrorism against India, develop friendly relation with India, shred too much religion agenda it carries, increase trade and people2people contact with India, then it will see whole new Pakistan. Only Country Pakistan can benefit in long run from is India . Look at other-side, even-though 80% of your population have positive opinion on China, in return barely 30% of Chinese have positive opinion on you.

 

[Kabira]

Seem like perfect opportunity for Pakistan to finance Bhasha Dam.

 

[Contrarian]

First Customer will be Pakistan for the funding of Basha Dam

What is the guarantee India wont do that? If Pakistan needs help from BRICS bank in financing the Basha Dam, India will be against it for sure with your old argument that the dam is in disputed territory.

If the dam is in Azad Kashmir, then no. India will not allow BRICS Bank to fund this. Not without some quid pro quo as hinduguy mentioned.

If it is not, it should not be a problem.

 

[Chinese-Dragon]

Is this the beginning of the end for the current uni-polar world order, dominated by the American-led West?

Is this the foreshadowing of a new multi-polar world? No doubt, BRICS and the SCO will be the main vehicles to achieve this most important of goals. Though it will take several decades more at least.

Think about it. China right now is the largest trading nation in the world, one of the largest creditors in the world, one of the largest surplus nations in the world, and has more currency reserves than the rest of the world combined, etc.

Yet France has more voting rights at the IMF than China! Not only France, but Britain, Germany, Japan, and of course America who has more than the rest combined.

Now we are equal partners in a new BRICS bank, this serves our national interests and goals far more than the IMF. And in the BRICS, we have partners who also share our interest in creating a multi-polar world, since they along with us will form the new poles of power, alongside the already established old-world powers.