Worthy Christian News » World News » BRICS Nations Setting Up $100 Billion Fund

christian news

Worthy Christian News » World News » BRICS Nations Setting Up $100 Billion Fund

brics-nations

WASHINGTON, D.C. (Worthy News)– The BRICS nations are setting up a $100-billion fund to steady currency markets, as well as a development bank.

The BRICS nations are likely to formally announce the setting up of a $100-billion fund, which will help member countries tide over a current account deficit crisis, at their fifth summit next week in Brazil.

China will be the largest donor to this fund and is expected to contribute around $41 billion. India, Russia and Brazil will contribute $18 billion each with South Africa bringing in the remaining $5 billion. Typically, these contributions are in the form of commitments and no actual fund flow happens until the money is required.

Russian President Vladimir Putin had last year spoken about creating a $100-billion fund to steady currency markets at a meeting of BRICS leaders. This fund is in addition to the development bank, the other important part of the evolving BRICS financial architecture, which is expected to be formally launched through a treaty next week in Brazil.

No Comment

Leave a Reply

Copyright 1999-2015 Worthy News. All rights reserved.

Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.

What is Worthy News?

Worthy News is an independent Christian news agency which reports news not covered by other outlets, on key developments in a rapidly changing world. Worthy News reaches both Christians and non-Christians around the globe and strives to be balanced and make a difference in these strategic times.

Worthy News. Reliable-Trustworthy-Cutting Edge

Recommended Links

  • Editor’s Blog

    • Historical Cyclical Patterns Emerging in Greece
      Greece defaulted on its IMF loan last night. It is interesting that it was actually the Greek Philosopher Plato who was the first to advocate the "credit" theory of money. His prized student, Aristotle, who […]
    • Reader Question: Where do you get that Sept. 23, 2015 is Jubilee (of Jerusalem)?
      First of all, it is important to know that God is not working on our Gregorian calendar but He is rather fulfilling His Word according to the calendar that He established, which is a 360 […]
    • Are you looking back? Remember Lot's Wife!
      As this shocking Supreme Court decision on Gay marriage settles into the nation, I'm reminded of the passage in Luke where Yeshua (Jesus) told us one of the final signs of His return. He said it […]
    • Supreme Court: Not One but THREE Strikes!
      Most are aware of the recent decision by the Supreme Court on the issue of same-sex marriage, but many may not realize that this was only one of the history-making decisions reached this session. This past month, […]
    • The Water Breaking Moment?
      In Matthew 24, Yeshua (Jesus) makes an interesting correlation between the end of the age and a woman giving birth. [Matthew 24:8]. As the birth of a baby draws near, the birth pangs intensify, and […]
    • Prophetic Calendar for 2015
      As requested by many and after much prayer and research, I have compiled a list of significant events over which we must be praying in the coming months. By listing these events, let it be […]
  • Editor’s Picks


  • 1999-2015 Worthy Christian News » BRICS Nations Setting Up $100 Billion Fund