Escobar: BRICS bank on its way to beat casino financial system

(borkena) $100 billion starting fund with the objective to protect countries from what is described as “Casino Financial System.”

Behind the project are Brazil,Russia,India,China and South Africa.

Would this project, which is poised to be an alternative lending institution for countries with financial needs, make the Bretton Woods institutions (IMF and World Bank) rethink the way they grant loans?

More importantly, is BRICS Bank poised to make all the difference or it is just a project to disturb the nexus between Wall Street and Bretton Woods Institutions which pretty much served as a policy tool to expand capital with while influencing change (social and cultural among other things) that these institutions desire ?

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