"While the BRICS five have repeated their criticism of the slow pace of reform in the International Monetary Fund and called for modified international financial institutions which better reflect today's global pattern of economic power, their key Delhi move has been the plan for a new development bank"
The Hindu : Opinion / Editorial : BRICS starts building: While the BRICS bank idea will likely take years to fructify, the key lies in deepening the channels of economic and financial flows within the five.
Its members see and recognise the limitations of Western power but are, as yet, unwilling to push for new ideas and bold solutions to festering problems. No doubt, the Delhi Declaration marks a definite new milestone for BRICS. But the grouping has some way to go before it becomes a real factor in international affairs.
The Hindu : Opinion / Editorial : BRICS starts building: While the BRICS bank idea will likely take years to fructify, the key lies in deepening the channels of economic and financial flows within the five.
Its members see and recognise the limitations of Western power but are, as yet, unwilling to push for new ideas and bold solutions to festering problems. No doubt, the Delhi Declaration marks a definite new milestone for BRICS. But the grouping has some way to go before it becomes a real factor in international affairs.
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