Lena Petrova: BRICS Bank Accepts New Member, Poised to Challenge IMF Tactics

In an increasingly multipolar world, the financial architecture that has long relied on institutions like the International Monetary Fund (IMF) and the World Bank is undergoing significant change. The recent acceptance of new members by the New Development Bank (NDB), commonly referred to as the BRICS Bank, heralds a shift in the global economic landscape that could challenge the traditional dominance of the IMF and its predatory tactics. Formed in 2014, the BRICS Bank was created by the member states of BRICS—Brazil, Russia, India, China, and South Africa—aiming to foster economic cooperation and provide financing for development projects in emerging…