BRICS demand bigger IMF role before giving it cash
WASHINGTON (Reuters) – The International Monetary Fund’s bid to win a big boost in funding to handle the euro-zone debt crisis hit a speed bump on Thursday when Brazil demanded more power at the IMF for emerging economies as a condition for lending it extra cash. Brazilian Finance Minister Guido Mantega laid out the terms for a deal after a meeting with fellow BRICS nations Russia, India, China and South Africa. “We are not ready to set a figure, because there are preconditions that have not been fulfilled by the countries – whether they will comply with the agenda of reforms,” he said. . . .
View full post on Yahoo! News – Top Stories
Leave a Reply