Prime Minister Narendra Modi said the "expansion and modernisation" of the grouping is a message that all global institutions need to mould themselves according to the changing times. The statement comes in the wake of New Delhi's call for enhanced lending firepower of major multilateral development banks (MDBs), including the International Monetary Fund and the World Bank, and the perceived ambivalence of the western countries to the idea.
The G20 finance ministers and central bank governors (FMCBG) meeting held in Gandhinagar, Gujarat, in mid-July, it may be recalled, could not reach a consensus on reforms for MDBs. It, however, reviewed the MDBs'capital adequacy frameworks and decided to unlock an extra lending headroom of $200 billion over the next decade.
The decision to invite the six countries to join the bloc as the new members was announced by South African President Cyril Ramaphosa on the final day of the annual summit of the BRICS held in Johannesburg. Currently, the BRICS consists of Brazil, Russia, India, China and South Africa.
Bu hikaye Financial Express Mumbai dergisinin August 25, 2023 sayısından alınmıştır.
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Bu hikaye Financial Express Mumbai dergisinin August 25, 2023 sayısından alınmıştır.
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