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Wednesday, March 27, 2013

BRIC nations plan new bank.

Leaders in Brazil, China, Russia, and India are exploring establishing a new development bank that could take on some of the roles of the IMF and World Bank. The goal is to create a bank with a sharper focus on emerging markets. Plans on funding the new bank have already created differing opinions with Russia favouring to cap each nation's initial contribution at $10B.

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