Vladimír Urbánek (Kurzy.cz)
Markets  |  March 27, 2013 16:35:30

BRIC countries and South Africa set up a fund for the 100 mld.USD against currency crises


Representatives of BRIC countries and South Africa to South Africa summit agreed to set up their own fund mld.USD strength of about 100, whose function will be stabilization and protection against currency crises of individual members of the agreement or for financing needed development projects.

Leaders of this effort has already declared before the summit. Common Fund will be an alternative to organizations such as the IMF or the World Bank, which recently faced by the association of many criticisms.

Most of establishing a fund to help China with a deposit of 41 mld.USD. After 18 mld.USD accompanied Russia, Brazil and India. Up to 100 mld.USD then prove RSA.

Details of the rules of operation of the new independent institutions will only refined the exact date when the fund is not yet determined.

Related news: BRIC considering setting up their own institutions at the IMF and World Bank
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Země BRIC a JAR založí fond o síle 100 mld.USD proti měnovým krizím

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