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World powers 'misuse' World Bank, IMF – BRICS bank exec

Oct 06, 2016 - 4:40 PM

The BRICS would not have gone so far as to create their own development bank if they were fully satisfied with the existing institutions says Paulo Nogueira Batista vice president and chief risk officer at the New Development Bank

This IMF handout photo shows International Monetary Fund Managing Director Christine Lagarde (C) joins John Chambers (R), Chairman of the Board, Cisco Systems; Leila Janah (2nd R) Founder and CEO of Sama and Laxmi; Ray Kurzweil (2nd L), author, inventor and futurist and Hilda Moraa (L), Founder, Weza Tele and Fintech as they talk at a Seminar on Technology, Innovation, and Inclusive Growth at the 2016 IMF/World Bank Annual Meetings October 5, 2016 at the IMF Atrium Headquarters in Washington, DC. / AFP PHOTO / IMF / STEPHEN JAFFE / RESTRICTED TO EDITORIAL USE - MANDATORY CREDIT "AFP PHOTO / IMF/STEPHEN JAFFE" - NO MARKETING NO ADVERTISING CAMPAIGNS - DISTRIBUTED AS A SERVICE TO CLIENTS