💨 Abstract

Russia, as the chair of BRICS, is pushing for the creation of an alternative to the International Monetary Fund (IMF) to counter political pressure from Western nations. BRICS, which also includes South Africa, Egypt, Ethiopia, Iran, UAE, and Saudi Arabia, is meeting in Moscow this week, and Russian Finance Minister Anton Siluanov has stated that the global financial system is controlled by Western countries, necessitating the formation of a new financial institution.

Courtesy: theprint.in