BRICS want to take control of the IMF and the World Bank!

The balance of global power may soon be undergoing a historic shift. Indeed, the BRICS nations are poised to take control of the world’s largest financial institutions. This transition would mean a possible end to Western dominance over these key institutions, marking a profound change in the global financial landscape.

The rise of the BRICS

In a recent interview with TASS, Roman Marshavin, the World Bank's executive director for Russia, made a more or less unexpected statement. He said that the BRICS countries will soon control the World Bank and the International Monetary Fund (IMF).

Currently, these institutions are largely dominated by Western nations, a situation that could change due to the rise of emerging economies. Marshavin clarified that “decisions are made by those who have a majority stake,” suggesting an imminent shift of power towards the BRICS countries.

The BRICS, comprising Brazil, Russia, India, China and South Africa, represents a coalition of large emerging economies. Recently, the group has expanded to include Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates, increasing its geopolitical and economic weight. This expansion illustrates the BRICS’ growing influence on the international stage.

Towards a new world order

Marshavin stressed the importance of active participation and cooperation with friendly nations to accelerate this change. He encouraged “to work patiently to bring this moment closer and not to give in to the provocations of those who cling to the outdated global system.” This statement highlights the BRICS strategic approach to reshaping the global financial order.

Macroeconomic and demographic changes play a key role in this transition. The economies of the BRICS countries continue to grow at a rapid pace, which could reshuffle the cards in terms of global economic power. Marshavin also mentioned that “Russia’s voice is important here.” He thus emphasizes the central role that Moscow and the other BRICS members could play in establishing a new world order.

In summary, the future of international financial institutions could be radically transformed by the rise of the BRICS. This transition, supported by economic and demographic changes, could alter the current balance of power. The implications of this shift are vast. They may affect global economic policies and geopolitical relations, among other things. As the world watches this evolution, the BRICS continue to position themselves to play a central role in the future international financial landscape.