Brazil reaffirms its call for IMF reform and favours the BRICS Bank as a substitute.
Brazil and other significant developing nations have long called for a significant redistribution of IMF quotas to address the underrepresentation of large emerging-market economies, but Tatiana Rosito, the secretary for international affairs at the Brazilian Finance Ministry, claims that the cost of inaction is rising. While changes delay, the developing world hasn’t stood still, she … Read more