{"id":9244,"date":"2012-03-24T03:25:21","date_gmt":"2012-03-24T01:25:21","guid":{"rendered":"http:\/\/www.myza.co.za\/03\/brics-eye-creation-of-multilateral-bank-brazil\/"},"modified":"2012-03-24T03:25:21","modified_gmt":"2012-03-24T01:25:21","slug":"brics-eye-creation-of-multilateral-bank-brazil","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/brics-eye-creation-of-multilateral-bank-brazil\/","title":{"rendered":"BRICS eye creation of multilateral bank-Brazil"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">BRASILIA, March 23<\/span> (Reuters) &#8211; Major emerging market<br \/>\neconomies will look closer at creating a joint development bank<br \/>\nto coordinate their financial power as the world economy<br \/>\nfalters, Brazilian Trade Minister Fernando Pimentel said on<br \/>\nFriday.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>Development banks of the so-called BRICS group of emerging<br \/>\neconomies plan to ink memorandums of understanding next week in<br \/>\nIndia to work on the creation of a multilateral bank that could<br \/>\nfinance investments in those nations and abroad, Pimentel said.<\/p>\n<p><span><\/span><\/p>\n<p>Leaders of BRICS nations China, India, Brazil, Russia and<br \/>\nSouth Africa will meet at a summit in India next week to discuss<br \/>\nthe world economy and closer coordination.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Brazil is interested, we sympathize with the proposal,&#8221;<br \/>\nPimentel told foreign reporters in Brasilia. &#8220;This is a global<br \/>\ntool that will allow for better coordination among the five most<br \/>\ndynamic economies in the world.&#8221;<\/p>\n<p><span><\/span><\/p>\n<p>He said there were no operational details yet about the<br \/>\npossible bank and that talks remained in the early stages.<\/p>\n<p><span><\/span><\/p>\n<p>For years the BRICS have demanded more influence on global<br \/>\nfinancial institutions long controlled by the United States and<br \/>\nEurope.<\/p>\n<p><span><\/span><\/p>\n<p>Developing nations are for the first time challenging the<br \/>\nU.S.&#8217;s grip on the World Bank by backing candidates from<br \/>\nemerging markets. Still, most analysts expect the U.S. to remain<br \/>\nin control of the global lender.<\/p>\n<p><span><\/span><\/p>\n<p>On Friday, U.S. President Barack Obama nominated a<br \/>\nKorean-American known for work fighting HIV\/AIDS in impoverished<br \/>\ncountries to lead the World Bank.<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BRASILIA, March 23 (Reuters) &#8211; Major emerging market economies will look closer at creating a joint development bank to coordinate their financial power as the world economy falters, Brazilian Trade Minister Fernando Pimentel said on Friday. Development banks of the so-called BRICS group of emerging economies plan to ink memorandums of understanding next week in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-9244","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/9244","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=9244"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/9244\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=9244"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=9244"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=9244"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}