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BRICS countries pour cash into I.M.F.

Thursday, 21 June 2012 - 7:08 AM SL Time

The `BRICS` group of countries including Brazil, Russia, India,China, and South Africa have contributed a sum of U.S.D. 70 Billion to the International Monetary Fund.

With this, the wealth of the I.M.F. has increased to USD 380 Billion. According to the I.M.F. reports, China has contributed USD 40 Billion, while the other BRICS members have contributed USD 10 Billion each.
The Chinese contribution is the largest ever offered falling below only to Japan`s USD 60 Billion, and Germany`s USD 54.7 Billion.
According to the reports, U.S.A. hasn`t contributed anything to the I.M.F.
The I.M.F. sources say that, By contributing this huge sum of money,the BRICS countries are intending to gain a greater voting power in the I.M.F.
The BRICS countries say that, these funds should be used in the `Second Line of Defence`, when the existing funds runs out

Source(s)
http://lankacnews.com/english/news/brics-countries-pour-cash-into-i-m-f/

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impartial Senior Member Joined: Dec 2007 Posts: 11744 Member Profile	21 Jun 2012 00:09:25 GMT Report for Abuse
	Its nice to see these emerging economic powers ready to play their part

DVLADV
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21 Jun 2012 00:31:41 GMT Report for Abuse

BRICS is not doing this because of the love for EU but to protect their interest. EU is a large economic block and if that goes down the impact in the BRICS economies too will be hard. China is giving 43b which it pledged in April and the other countries India, Brazil and Russia are contributing 10b each.

The question is will this prevent or delay the collapse unless EU changes its behavour. This is one reason Canada and USA has refused to act at the current time.

impartial Senior Member Joined: Dec 2007 Posts: 11744 Member Profile	21 Jun 2012 00:34:24 GMT Report for Abuse
	The question is will this prevent or delay the collapse unless EU changes its behavour. This is one reason Canada and USA has refused to act at the current time. lolz canada may be but canada only does what USA say .. USA already broke :) poverty going over the roof

impartial Senior Member Joined: Dec 2007 Posts: 11744 Member Profile	21 Jun 2012 00:39:52 GMT Report for Abuse
	deleted Edited By - impartial - 21 Jun 2012 00:41:06 GMT

impartial
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21 Jun 2012 00:40:54 GMT Report for Abuse

Some comments from other site about USA @ the momemnt

statistics of America worse than any third world country

5% of American incarcerated

every 20 minutes a murder

25%of Blacks unemployed

40% of American take psycho active ,mind altering drugs crazy drugs

one in 3 American on anti depressants or hallucinogenic or ant anxiety drugs

33% of Americans don't have medical insurance.if get sick Only God can look after them.

23%homeless
But has 700 American bases in 120 countries for world domination protect from

unknown enemy
defence spending 1thousand billions or trillion 45% of world spending on defence

estimated $80 billions/year budget for CIA no questions asked how they spend it is classified
information. CIA budget many times bigger than state department budget according to wikepedia.

but buggers still tell others how to run their countries :):)

Shawnw
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21 Jun 2012 01:31:57 GMT Report for Abuse

25%of Blacks unemployed

I see a lot of sudden changes in American way of life. People are becoming more serious and thoughtful, especially about the way they spend. Companies are becoming very strategic. Most of the companies took the liberty to get rid of deadwood. Many of those who have jobs have take it for granted. But those who were rehired after lay-offs etc. are really determined to give 100%. So companies are becoming more and more competitive. So life is becoming harder for slackers and they will remain poor without freebies (so more unemployment % as long as they refuse to work). Those who work hard are enjoying the cake with icing. At the moment, lot of companies are hiring, but not many qualified applicants. Both private and public sector got rid of many unwanted workers and now functioning like a well oiled machine compared to 2-3 years ago. Obama did a really good job and USA will peak again in another 3-4 years, but not to go down again for at least another generation.

You need to work in the field to be a good farmer and to understand what is all about farming. watching couple of youtube videos will make you supposedly a good farmer, but in Farmville.

impartial
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21 Jun 2012 02:19:58 GMT Report for Abuse

So companies are becoming more and more competitive. So life is becoming harder for slackers and they will remain poor without freebies (so more unemployment % as long as they refuse to work). Those who work hard are enjoying the cake with icing. At the moment, lot of companies are hiring, but not many qualified applicants. Both private and public sector got rid of many unwanted workers and now functioning like a well oiled machine compared to 2-3 years ago. Obama did a really good job and USA will peak again in another 3-4 years, but not to go down again for at least another generation.

well thats true .. but in any economy when things get bad these things happen,it is just snap shot to show things are not good..

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BRICS countries pour cash into I.M.F.