Since the fifth and most recent BRICS summit, which took place in March 2013 in Durban, South Africa, the unified participation of the «fivesome» (Brazil, Russia, India, China, and South Africa) in international affairs has become even more noticeable. And it is no exaggeration to say that Russia is playing the role of the conceptual leader of BRICS... The main event of the BRICS summit in South Africa was the politically-motivated decision to create a BRICS Development Bank... The idea of creating the BRICS Development Bank started from a simple fact: the West blocked the redistribution of votes (country quotas) in the IMF to reflect changes in the relative economic weight of certain states...
Yuri BARANCHIK | 03.06.2013