BRICS reach deal on development bank to rival IMF & WB

[h=2]The world's leading emerging economies have reached a deal to create a development bank that will rival Western-backed institutions such as the International Monetary Fund and World Bank. [/h]for more: BRICS reach deal on development bank to rival IMF - Telegraph

My take:
The interests of the West to Africa and the world at large is at stake...

After they establish their own bank will they (BRICS) abandon the membership in IMF and WB?

They will still be Members for these two Organizations,But just repaying old loans,pay membership fee if there is any and don't look nor apply for new loans.

Arushaone said:

After they establish their own bank will they (BRICS) abandon the membership in IMF and WB?

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Nchi za magharibi hasa Marekani ziliendelea kwa kasi kubwa kutokana na kushikilia haya mashirika ya fedha (IMF na WB). Nakwakuwa wao ndiyo wanaochapisha dola (ambazo hazina thamani halisi), waliweza kuwa na ushawishi mkubwa sana duniani (mfano kupanga bei ya mafuta, kuweka viongozi waliowataka, kama shah wa Iran), na hivyo kurubuni nchi nyingi masikini kujiingiza katika madeni yasiyolipika. Sasa kama hawa jamaa wa BRICS wakiamua kutumia fedha yao mpya katika huduma zao za benki Marekani itaumia sana.

Arushaone said:

After they establish their own bank will they (BRICS) abandon the membership in IMF and WB?

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Very likely, coz they are forming something to defeat the Washington Consensus. So they can't be the part of their adversary.

eliakeem said:

Very likely, coz they are forming something to defeat the Washington Consesor. So they can't be the part of their adversary.

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You mean "WASHINGTON CONSENSUS"?

Ndinani said:

You mean "WASHINGTON CONSENSUS"?

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Ndiyo ndiyo...... ngoja nikarekebishe pale juu.

Chamoto said:

Nchi za magharibi hasa Marekani ziliendelea kwa kasi kubwa kutokana na kushikilia haya mashirika ya fedha (IMF na WB). Nakwakuwa wao ndiyo wanaochapisha dola (ambazo hazina thamani halisi), waliweza kuwa na ushawishi mkubwa sana duniani (mfano kupanga bei ya mafuta, kuweka viongozi waliowataka, kama shah wa Iran), na hivyo kurubuni nchi nyingi masikini kujiingiza katika madeni yasiyolipika. Sasa kama hawa jamaa wa BRICS wakiamua kutumia fedha yao mpya katika huduma zao za benki Marekani itaumia sana.

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Ukombozi umefika....... maana sasa sisi nchi zinazoendelea hatutalazimika kukopa kwao...... tunachagua tu pa kwenda kukopa kulingana na unafuu wa masharti....

i smell madhara ya mvutano wa maslahi wa hizi taasisi mbili big hasa kwa nchi changa na maskini, yaleyale ya west block and east block yanaweza kurudia..

eliakeem said:

Ukombozi umefika....... maana sasa sisi nchi zinazoendelea hatutalazimika kukopa kwao...... tunachagua tu pa kwenda kukopa kulingana na unafuu wa masharti....

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Waafrika bana kwa kupigia wengine makofi?

Hii kitu tulizembea kufanya.

AFRICAN MONETARY FUND, AFRICAN CENTRAL BANK, AFRICAN INVESTMENT BANK
The US$30 billion frozen by Mr Obama belong to the Libyan Central Bank and had been earmarked as the Libyan contribution to three key projects which would add the finishing touches to the African federation – the African Investment Bank in Syrte, Libya, the establishment in 2011 of the African Monetary Fund to be based in Yaounde with a US$42 billion capital fund and the Abuja-based African Central Bank in Nigeria which when it starts printing African money will ring the death knell for the CFA franc through which Paris has been able to maintain its hold on some African countries for the last fifty years. It is easy to understand the French wrath against Gaddafi.

The African Monetary Fund is expected to totally supplant the African activities of the International Monetary Fund which, with only US$25 billion, was able to bring an entire continent to its knees and make it swallow questionable privatisation like forcing African countries to move from public to private monopolies. No surprise then that on 16-17December 2010, the Africans unanimously rejected attempts by Western countries to join the African Monetary Fund, saying it was open only to African nations.

Ili kufahamu kuwa South Africa huenda ikaingia kwenye migogoro kama Libya soma hapa Why the West wants the fall of Gaddafi? An analysis in defense of the Libyan rais - ModernGhana.com

eliakeem said:

The world's leading emerging economies have reached a deal to create a development bank that will rival Western-backed institutions such as the International Monetary Fund and World Bank.

for more: BRICS reach deal on development bank to rival IMF - Telegraph

My take:
The interests of the West to Africa and the world at large is at stake...

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Fafanua hiyo red.

Pia soma hii Gold, Oil, Africa and Why the West Wants Gadhafi Dead

Nilimsoma ndugu J. Makamba akisema South Africa economy represents a mere 2.5% of the total money available at BRICS (he even suggested BRICs) na ndio the largest African economy.
Jana nilimskia minister of trade and global cooperation akisema kua soon other African countries are applying and could join wakitekeleza masharti.
Nimebaki kujiuliza kama uwepo wa African country in BRICS sio tu PR ili nchi za afrika zione zimeshirikishwa na zigawe tenders na contracts upande huu kuliko IMF or WB.

Nonda said:

Fafanua hiyo red.

Pia soma hii Gold, Oil, Africa and Why the West Wants Gadhafi Dead

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Siku zote ushindani si kitu kizuri kwa yeyote..... na ukisoma lengo la kuanzisha benki yao ni ku outperform the west in any aspect starting with the economy.

Soma hii pia uone how the CHINA and BRICS at large become a threat to the West.... now they are only seeing bad thing to China.

http://www.africa-asia-confidential.com/news

http://www.africa-asia-confidential.com/article-preview/id/886/Hostile_crowd_awaits_BRICS_summiteers

eliakeem said:

Siku zote ushindani si kitu kizuri kwa yeyote..... na ukisoma lengo la kuanzisha benki yao ni ku outperform the west in any aspect starting with the economy.

Soma hii pia uone how the CHINA and BRICS at large become a threat to the West.... now they are only seeing bad thing to China.

News | Africa-Asia Confidential | First with the news on the Africa/Asia axis

Africa-Asia Confidential | First with the news on the Africa/Asia axis

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Utapenda hii Chavez, the Sucre and the West | Corporate Foreign Policy na hii A Guide to ALBA | Americas Quarterly ni wazi Chavez pia alikuwa tishio. Ilibidi ashugulikiwe!

Niliwahi kusema hapa Ghadafi hakua na kosa lolote, kosa lake ni kusaidia hivi vinchi vyenye njaa na kuviokoa na domo la yale mambwa mwitu ya Marekani na Ulaya...na kweli wote ni mashahidi kwamba mwanaume yule wa shoka hakufaa kuuwawa..natamani siku moja Afrika ilipize hiki kifo cha Ghadafi kweli kabissa...mpaka leo kinaniumiza sana moyo wangu...uzuri wa hii Brics ni kwamba wana nguvu kubwa ya Kijeshi wote na baadhi wana Nyuklia sasa hawa mbwa hawawezi kumpiga yeyote kati ya hawa....

Rip muamar minyar al ghadafi

RIP HUGO CHAVEZ FRIAS..Revolutionary come and go..ur no exception you prayed your part and left behind tonnes of indelible mark..love always

Somoche said:

Niliwahi kusema hapa Ghadafi hakua na kosa lolote, kosa lake ni kusaidia hivi vinchi vyenye njaa na kuviokoa na domo la yale mambwa mwitu ya Marekani na Ulaya...na kweli wote ni mashahidi kwamba mwanaume yule wa shoka hakufaa kuuwawa..natamani siku moja Afrika ilipize hiki kifo cha Ghadafi kweli kabissa...mpaka leo kinaniumiza sana moyo wangu...uzuri wa hii Brics ni kwamba wana nguvu kubwa ya Kijeshi wote na baadhi wana Nyuklia sasa hawa mbwa hawawezi kumpiga yeyote kati ya hawa....

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Si wewe tu mwenye uchungu..... ni wengi waliumia..... lakini hakukuwa na wakumtetea..... Ghadaf alipenda sana Afrika na ndiyo maana aitaka iwe na kiti cha kudumu kwenye baraza la usalama la UM....

Lakini Walibya na Waafrika kwa ujumla hawatasahau mazuri yake aliyoyafanya..... hasa baada ya kuwa mtu mzima aliyeongezeka na hekima pia....

Aisee hii nimeipenda itakuwa nafuu kwetu kukopa huko kuliko kukopa kwa wakubwa wa WB

It is a good start , Gaddafi alitaka kuanzisha Benki ya Africa wakamdedisha maana Africa ingekuwa Huru kutoka mikono ya mabeberu.