Monday, March 25, 2013

Bypassing IMF, WB

Near zero interest rates in the U.S., Japan and Europe have fueled foreign investors’ appetite for higher-yielding assets, driving up currencies from Brazil to Turkey. Brazil has warned of a global currency war and has been pushing for a pooling of foreign-currency reserves to shield the region from global financial shocks..
Bloomberg: BRICS Nations Plan New Bank to Bypass World Bank, IMF

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