André de Mello e Souza (for Info only, not official)

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André de Mello e Souza

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    ...When formalized, the grouping’s initial purpose was to reform international financial institutions, particularly the International Monetary Fund (IMF) and the World Bank, which still reflect an outdated distribution of power of the post-war period. However, Brics has faced much scepticism, stemming from the perception that differences among member-countries far outweigh their similarities. Nevertheless, intra-Brics cooperation has expanded from just finance to cover a wide range of issues such as trade, education, science and technology, health and defence. Brics countries have accounted for most of the global economic growth in the aftermath of the 2008 financial crisis which had its epicentre in the US. Since then, the grouping has been taken more seriously given the general sense that a significant shift of economic power was underway. ...

    Live Mint on Nov. 2, 2016, 3:29 p.m.