IEmerging Nations Drive Ahead

Emerging Nations Drive Ahead

Emerging Nations Drive Ahead

Posted on 2016-07-04 14:15:10 by brics

Within international financial institutions, this transformation of the global economic landscape, vis-à-vis BRICS is not fully reflected. If we examine the quotas for BRICS in terms of Special Drawing Rights (SDRs) and their vote-share in rule setting at the highest level, and compare it to the US, Japan or even Britain, the allocation in the IMF is unfair. Brazil, China, and India had 19 per cent fewer votes than Belgium, Italy, and the Netherlands collectively, despite their 21 per cent more nominal GDP, 400 per cent more purchasing power GDP, and 2800 per cent more population.

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