Source Pravda.Ru

Russia to create $100bn competitor to the IMF

 

Russian President Vladimir Putin ratified a document to establish a reserve fund for the BRICS countries. The new reserve fund is to hold $100 billion. The BRICS countries are the dynamically developing economies of Russia, China, Brazil, India, and South Africa, Pravda.Ru reports. 

Also read: New BRICS bank to change world's financial system

Russia is said to contribute $18 billion to the reserve fund. China promised to invest $41 billion. The agreement to build the fund was signed in July in Brazil. 

In addition, the BRICS countries plan to build their own international bank to challenge western dominance over international money markets. The bank will be based in Shanghai.

Pravda.Ru 

Read article in Russian on the Russian page of Pravda.Ru

Source: EntryNews.com 

 

Certainly readers already know that the Prosecutor's Office of Nanterre has ordered that Marine Le Pen, secretary of the Rassemblement National (former FN) and parliamentary to the Assembly, be submitted to psychiatric examination.

This is a liberation fight from the Soviet EU
Comments
Russian officials celebrate 60th anti-Russian sanction
Ukraine's Poroshenko: Russia's Third Rome to fall soon
Sexual abstinence more harmful to women
USA punishes China for purchasing arms from Russia
Russia to ship S-300 to Syria after Il-20 shootdown
Russia to ship S-300 to Syria after Il-20 shootdown
Russia to ship S-300 to Syria after Il-20 shootdown
Russia to ship S-300 to Syria after Il-20 shootdown
Russia to ship S-300 to Syria after Il-20 shootdown
On the collapse of civility in Western nations: living in the era of 'not nice'
On the collapse of civility in Western nations: living in the era of 'not nice'
Roscosmos contractor steals millions, state secrets and flees to USA
Roscosmos contractor steals millions, state secrets and flees to USA
Russia to ship S-300 to Syria after Il-20 shootdown
How many aircraft and pilots Russia has lost in Syria so far
Russia to ship S-300 to Syria after Il-20 shootdown
Russia to ship S-300 to Syria after Il-20 shootdown
Gaddafi's predictions come true as Americans gang rape the world
Russia to ship S-300 to Syria after Il-20 shootdown
Gaddafi's predictions come true as Americans gang rape the world
A glimpse into the past and the future