Africa Now October 1, 2014 Is the BRICS Bank More of the Same or A Challenge to IFIs

Topic and Guests: Is the BRICS Bank more of the same or a challenge to the International Financial Institutions?   As the World Bank and International Monetary Fund (IMF) set to hold their annual meetings late next week and on the heels of the summit in Fortaleza, Brazil in July of the BRICS bloc, today’s Africa Now! will focus on the BRICS Bank.  The economic grouping budded BRICS are the countries of Brazil, Russia, India, China and South Africa.  Some analysts have suggested that BRICS bloc present a new challenge to the Western dominated International Financial Institutions.  Others have said the BRICS bloc is merely a perfection or rather an amplification of the present system and problems.  Last week Patrick Bond, of Center for Civil Society in Durban, South Africa; and Deborah James of Center for Economic and Policy Research discussed this issue at the Institute for Policy Studies. 

Patrick Bond

Patrick Bond

Dr. Patrick Bond has longstanding research interests and applied work in global governance and national policy debates, in urban communities and with global justice movements in several countries.  He is professor at the University of KwaZulu-Natal School of Development Studies in Durban, South Africa where since 2004 he has directed the Centre for Civil Society.  His research focuses on political economy, environment (energy, water and climate change), social policy and geopolitics, with publications covering South Africa, Zimbabwe, the African continent and global-scale processes.  Patrick Bond is author of numerous books and articles.

Deborah James

Deborah James

Ms. Deborah James is the Director of International Programs at Center for Economic and Policy Research (CEPR).  Ms. James has over a dozen years of expertise working on issues of trade and democratic global governance at the Center for Economic and Policy Research (CEPR).  At CEPR, her work focuses on the World Trade Organization, the International Monetary Fund, and US policy towards Latin America. Prior to CEPR, she was the Director of the WTO Program of Public Citizen's Global Trade Watch, where she worked to inform civil society and governments worldwide about the potential impacts of the WTO's proposed Doha Round expansion.  She has written numerous articles and makes regular media appearances.

The discussion “BRICS Bank: A Challenge to Bretton Woods or More of the Same?” with Patrick Bond, of Center for Civil Society in Durban, South Africa; and Deborah James of Center for Economic and Policy Research discussed this issue at the Institute for Policy Studies.  The event was presented by Institute for Policy Studies’ Global Economy and Foreign Policy In Focus projects and the moderator was Foreign Policy In Focus Editor, Peter Certo

Originally broadcast on WPFW 89.3FM, Washington, DC.  Tune into Africa Now! live on WPFW 89.3 FM in the Washington, DC Metropolitan area or visit www.wpfwfm.org on Wednesdays from 1:00 to 2:00PM (Eastern).