BRICS Poised to Dominate World Bank and IMF, Says Russian Executive Director
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The World Bank Executive Director for Russia forecasts that BRICS nations will soon dominate the World Bank and the International Monetary Fund (IMF), attributing this shift to inevitable macroeconomic and demographic changes away from Western dominance. He emphasized the importance of working patiently toward this goal and resisting provocations from those upholding the old global system.BRICS to Dominate Global Financial Institutions, Says World Bank Executive Director for RussiaRoman Marshavin, World Bank Executive Director for Russia, said in an interview with TASS this week that BRICS nations will soon control the World Bank and the International Monetary Fund (IMF). Marshavin has represented the Russian Federation and the Syrian Arab Republic at the World Bank Group since November 2018.The World Bank Executive Director emphasized that Western nations currently dominate these institutions, but macroeconomic and demographic shifts are steering control toward BRICS countries.“As in any other corporation, the ‘shots are called’ by those who own a controlling stake,” he described, elaborating:So far, Western countries hold control over the Bretton Woods institutions, but the transition of control over to the global majority countries led by BRICS is only a matter of time due to macroeconomic, demographic and other trends.BRICS, an acronym for Brazil, Russia, India
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