BRICS TO FORM THEIR OWN WORLD BANK AND IMF

There will be a global economic shift coming from the BRICS (Brazil, Russia, India, China and South Africa). These countries are in talks to open up their own World Bank and IMF for developing countries to provide loans for infrastructure and other necessary resources. I believe that what the BRICS are doing is good, it is competition for financial institutions that only assist western countries/developed countries with monetary assistance. Also, it seems that the heads of state of these 5 countries seem to get along very well, meaning that the bank they are planning to open in 2016 or any future projects have the potential to be successful.

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