10

INTERNATIONAL FINANCIAL INSTITUTIONS

LEARNING OBJECTIVES

After reading this chapter, you should be able to:

  • Understand the need for International Financial Institutions in the global economy
  • Explain the role of the IMF as a regulator of global finance
  • Analyse the importance of the World Bank Group as a source of development finance
  • Distinguish between the objectives and functions of the IMF and World Bank
  • Examine the regional financial institutions in Asia and Africa
THE NEW BRICS BANK

The five BRICS nations—Brazil, Russia, India, China and South Africa have agreed to establish a development bank for the financing of infrastructure projects. It has been christened ‘The New Development Bank’, and established with a corpus of USD 50 million ...

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