Imagine a group of five friends who get together to build a holiday house but can’t agree on what it should cost, where to put it or who should pay for it.
This, roughly, is the position of the leaders from Brazil, Russia, India, China and South Africa as they end their annual Brics summit.
They all think that a Brics development bank is a good idea – a channel for funds for developing countries, managed by developing countries independently of the International Monetary Fund and the World Bank, where the developed world still predominates.
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