The BRIC coalition’s alternative to the United States’ IMF is now fully funded and operational. This new emergency lending agency will disrupt the United States Government’s and EU’s ability to conduct predatory financing raids on countries seeking international financial aid.
Perhaps it means that the next time a Greece event develops, it won’t end with either the U.S. or the EU engaging in full-scale confiscation of the target country’s primary national assets.
The $100 billion BRICS Contingent Reserve Arrangement (CRA) has become fully operational following the inaugural meetings of the BRICS CRA Board of Governors and the Standing Committee in the Turkish capital of Ankara.
“The first meetings of the governing bodies mark the start of a full-scale operation of the BRICS Contingent Reserve Arrangement as an international institution with activities set to enhance and strengthen cooperation,” said a Russian Central Bank statement on Friday.
BRICS leaders Xi Jinping, Vladimir Putin, Jacob Zuma, Narendra Modi and Dilma Rousseff witnessed the signing of the agreement on the CRA in the Brazilian city of Fortaleza in July 2014.
You can read the rest of this article here: $100 Billion BRICS Monetary Fund Now Operational