Insightful Word
  • Investing
  • Stock
  • Economy
  • Politics
  • Investing
  • Stock
  • Economy
  • Politics
No Result
View All Result
Insightful Word
No Result
View All Result
Home Economy

Factbox-Reactions to the first expanded BRICS summit

admin by admin
October 24, 2024
in Economy
0
Factbox-Reactions to the first expanded BRICS summit
0
SHARES
4
VIEWS
Share on FacebookShare on Twitter

(Reuters) – Russia this week hosted the first summit of the newly expanded BRICS club of emerging economies, with leaders agreeing a set of common projects ranging from a grain exchange to a cross-border payments system.

Here is a selection of reactions from officials and analysts on the significance of the meeting:

ABEBE AEMRO SELASSI, DIRECTOR OF THE AFRICAN DEPT, IMF

“If you look at IMF and World Bank, some of the most influential members here are indeed the Brazils, the Indias, the Chinas of this world … And increasingly over the years, they’ve been playing an important role. I don’t think I buy this juxtaposition about IMF/World Bank versus BRICS.”

JOHN STREMLAU, PROFESSOR, WITS UNIVERSITY IN JOHANNESBURG

“The point of BRICS, it depends who among the countries you ask. South Africa would say it affirms its non-alignment… I would also bet they see the summit in Russia as a ‘hedge’ as (Donald) Trump could win in the United States (Nov. 5 election) and we all know he has a grudge against South Africa.”

ING ANALYSTS DMITRY DOLGIN AND CHRIS TURNER

“President Putin seems to have kicked the idea of a single BRICS currency into the long grass. Instead, the focus is on decreasing the use of the dollar and, where possible, increasing the use of BRICS currencies.”

GREEK FINANCE MINISTER KOSTIS HATZIDAKIS

“These (BRICS) countries all have their own ambitions and we cannot dictate them what to do and what to avoid. We believe that in the era of globalization, international cooperation is needed more than ever, and I think that all of us, we have to strengthen this cooperation based on certain principles.”

HANNAH RYDER, CEO OF DEVELOPMENT REIMAGINED CONSULTANCY

“BRICS is showing it is not interested in maintaining the status quo. It seems like that’s what they might be finding a way to shape themselves around, especially with the broader membership now.”

JIM O’NEILL, EX-GOLDMAN SACHS ECONOMIST WHO COINED TERM BRIC

“To me, the whole purpose of me writing about BRICS … it was clear in 2001 that we entered a much more complicated global world where some countries would be big that didn’t share the same political, cultural and social values as others.

“My argument was that will be good for everybody so long as they can be in the same central group for coordinating global policies. The G20 became that, and sadly, because of the political instincts of some leaders, the BRICS has become some kind of attempt at an alternative to that and the G7. But it doesn’t make sense.”

This post appeared first on investing.com

Previous Post

Luckin Coffee stock analysis: Is Cotti Coffee a big threat?

Next Post

Exclusive-Pakistan formally requests IMF RST money, targeting $1 billion, finance minister says

admin

admin

Next Post
Exclusive-Pakistan formally requests IMF RST money, targeting $1 billion, finance minister says

Exclusive-Pakistan formally requests IMF RST money, targeting $1 billion, finance minister says

Trending News

Top five Nifty Smallcap gainers of 2024: what drove their surge?

Top five Nifty Smallcap gainers of 2024: what drove their surge?

December 25, 2024
Court blocks Trump tariffs: markets get a lift, but uncertainty prolonged

Court blocks Trump tariffs: markets get a lift, but uncertainty prolonged

May 29, 2025
European stocks follow global peers after US Fed meet: DAX down 0.8%, FTSE 100 dips over 1%

European stocks follow global peers after US Fed meet: DAX down 0.8%, FTSE 100 dips over 1%

December 19, 2024
Subscribe to Insightful Word


    Recent News

    S&P 500 nears record high despite headwinds: key drivers behind the surprise rally

    S&P 500 nears record high despite headwinds: key drivers behind the surprise rally

    June 26, 2025
    Top Nasdaq 100 Index stocks of 2025 as it breaks new all-time high

    Top Nasdaq 100 Index stocks of 2025 as it breaks new all-time high

    June 26, 2025
    S&P 500 nears record high as Wall Street opens higher amid tech momentum

    S&P 500 nears record high as Wall Street opens higher amid tech momentum

    June 26, 2025
    Galaxy Digital launches $175 million fund to back DeFi and stablecoin startups

    Galaxy Digital launches $175 million fund to back DeFi and stablecoin startups

    June 26, 2025

    Recent News

    S&P 500 nears record high despite headwinds: key drivers behind the surprise rally

    S&P 500 nears record high despite headwinds: key drivers behind the surprise rally

    June 26, 2025
    Top Nasdaq 100 Index stocks of 2025 as it breaks new all-time high

    Top Nasdaq 100 Index stocks of 2025 as it breaks new all-time high

    June 26, 2025

    Latest News

    • S&P 500 nears record high despite headwinds: key drivers behind the surprise rally
    • Top Nasdaq 100 Index stocks of 2025 as it breaks new all-time high
    • S&P 500 nears record high as Wall Street opens higher amid tech momentum

    About Insightful Word

    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools
    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools

    Copyright © 2025 Insightfulword.com. All Rights Reserved.

    No Result
    View All Result
    • Investing
    • Stock
    • Economy
    • Politics

    Copyright © 2025 Insightfulword.com. All Rights Reserved.