Iran has called for BRICS nations to reduce their reliance on Western financial systems, warning of the risks posed by such dependence. Addressing the BRICS summit in Russia, Iran’s president urged the bloc to explore alternative structures and strengthen institutions like the New Development Bank to support new members. He reaffirmed Iran’s commitment to reshaping…
A Zimbabwean professor has highlighted the BRICS New Development Bank (NDB) as a crucial alternative to the International Monetary Fund (IMF), offering better financial terms to developing nations. He emphasized the NDB’s role in helping countries like Zimbabwe escape debt cycles and discussed the introduction of Zimbabwe Gold (ZiG), a currency backed by mineral wealth,…
The New Development Bank (NDB), commonly called the BRICS bank, has officially authorized a new country to join the ranks. The multilateral bank, which was launched in 2015 to provide loans for developmental projects among BRICS nations is now expanding. The expansion will allow other developing countries to receive funds for projects and not be…