Wednesday, June 20, 2012

BRICS NATIONS PLEDGE $ 75 BILLIONS TO IMF’S WAR CHEST




India, Russia and Brazil have offered $ 10 billion each whereas South Africa made a commitment of $ 2 billions. Asia’s big brother China has offered $43 billions making it to $75 billions from BRICS nations.

The five BRICS nations represent 43 percent of the world's population and about 18 percent of global economic output. They have about $4 trillion in combined reserves, with the lion's share held by export powerhouse China.

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