Military Review

BRICS - USA: fight for the IMF

As is known, at the end of 2015, the IMF behind the scenes decided that Ukraine's delay in loan payments and the automatic default of the Ukrainian economy is not an obstacle to continuing lending to the “square”. Ukraine was introduced to the IMF lending program, and introduced with the explicit goal that not only the main builders of Ukrainian democracy, who you know yourself, were engaged in lending, but also all those countries that have membership in the International Monetary Fund and act as donor countries of the fund.

As a result, the situation has been reduced to completely absurd. By introducing Ukraine into the IMF program, this very IMF is trying to force Russia to continue lending to the Ukrainian economy, despite the fact that Russia has not received timely payments from Ukraine on the 3 billion-dollar loan. More precisely, it is not so much to force a loan, how much to simply put before the fact: they say, the loan goes also to yours, the Russian taxpayer, the funds - at our highest permission.

In the Russian government, they were offended by this fact, and decided, for their part, to influence the behind-the-scenes whispered by representatives of the International Monetary Fund office. Thus, the Deputy Minister of Finance of the Russian Federation Sergei Storchak said that Russia is stepping up its work aimed at strengthening the position of the BRICS countries in the IMF. According to Storchak, the consolidated share of votes of the BRICS countries should have a more significant role in the International Monetary Fund than the one that exists today in terms of individual BRICS countries (Brazil, Russia, India, China and South Africa).

BRICS - USA: fight for the IMF

It is necessary to provide some background information eloquently demonstrating the layout of the "forces" in the IMF. The USA has the largest quota in the IMF in the amount of 16,7%. All the BRICS countries taken together - 14,7%. And even then, such a BRICS quota became only the other day - January 27. Until last Wednesday, she was 14,18%. The whole point is that, despite the apparent proximity of quotas, there is a gulf between them. And the gap between them is because the presence of a quota in the amount of only 15% allows you to use the veto right. In other words, the United States has the veto right (that is, the right to block any non-compensating US proposal), and the BRICS countries do not have the right to veto. And the BRICS quota, which is clearly visible, is clearly deliberately kept below the 15% mark. And there is no veto right, as you can see, not just for each BRICS country separately, but even for the whole union with its total population under 3 billion people.

In BRICS itself, such an alignment in the IMF is considered, to put it mildly, unfair and they intend to work on reducing the US quota and simultaneously increasing their own quota. It would seem, for what? After all, an increase in quota is the growth of investments in the fund. But this is a strategy. After all, if the psychological mark in 15% is reached, then BRICS will have a real consolidated voice, able to dictate its own conditions through the IMF. After all, while the IMF is a platform serving only American interests.

From the statement of the Deputy Minister of Finance of the Russian Federation:
The immediate task: to consolidate the positions of the BRICS countries on the IMF's activities. It is necessary to collect proposals for the forum to solve the problem of obtaining the right of veto when voting in the fund, as is the case with the United States.

Russia assesses the entry into force of the Seoul agreements (quota allocation agreements - author's note) as a positive, but intermediate step. Work on the redistribution of quotas in favor of developing countries and countries with emerging markets will continue as part of the XV accumulation of fund capital.

The nearest reform of the IMF, if it is carried out, reduces the US quota by 0,2%. Not much, but the American "partners" hold their teeth even for this seemingly ridiculous value. Why? Yes, because really afraid to lose full control over the IMF.

In order to leave its hegemony in the International Monetary Fund unshakable, in the United States and its closest satellites they decided to go the usual way - to lay a grenade. So, in the publication of the Financial Times immediately after the revitalization of Russia in terms of increasing the BRICS quota, a materialchik turned to himself. The newspaper reported that BRICS (the material speaks about BRIC - that is, already without South Africa) has long outlived itself, so, in fact, without becoming a fully consolidated economic megastructure. To say that this is the first statement of this kind from Western "friends" is not necessary. Similar statements were made before. But there is a FT publication and its own novelty. The fact is that the authors of the material, as if overthrowing the BRICS, decided that in modern conditions the TICK union might be more efficient. These are Taiwan, India, China and the Republic of Korea. The material even cites a “major expert” who states that BRIC “is not a growth mechanism for a developing economy,” and that TICK could be much more efficient.

It would seem, why even pay attention to this kind of publication? But you have to pay attention, if only because it is these publications that are designed to prevent one of the most serious steps of BRICS - to gain the opportunity to defend their interests in the IMF. The United States is simply trying to use the old “divide and conquer” formula again, and if they understand this in the BRICS conglomerate, they will not succumb to provocative steps and continue to systematically bend their line. The potentials are huge, there are plenty of common interests too. And in response to the fact that “BRICS is no longer the same,” the United States in response can receive an information pill in the style of “and the states themselves are not as united today as they are trying to imagine” ...
Photos used:
Dear reader, to leave comments on the publication, you must to register.

I have an account? Sign in

  1. Mavrikiy
    Mavrikiy 29 January 2016 06: 21
    Well then. Then Greece, Spain and others like them will also cease to repay IMF debts. Hello first of all to Germany, now there is a precedent.
    1. Mavrikiy
      Mavrikiy 29 January 2016 20: 46
      Dear, UV. where is koment (-)?
  2. Great-grandfather of Zeus
    Great-grandfather of Zeus 29 January 2016 06: 30
    And there wasn’t figs in this cesspool, the IMF-in general, and to climb! I wrote that we are a filthy IMF and will make us quasi-state. It is urgent to leave the IMF and the WTO!
    1. chikenous59
      chikenous59 29 January 2016 09: 24
      Quote: Great-grandfather of Zeus
      And there wasn’t figs in this cesspool, the IMF-in general, and to climb! I wrote that we are a filthy IMF and will make us quasi-state. It is urgent to leave the IMF and the WTO!

      Why go out, great-grandfather? What kind of logic?
      How do you imagine this? They left the IMF, completely lost influence there, and what will we achieve with such a step?
      You are clearly against the hegemony of the United States, but you propose such a step that will lead to even greater hegemony of the United States in the IMF.
      Therefore, I am awarding you with the Order of the "Pseudo-patriot".
      Ukraine can be tolerated, over time things will get better at the IMF, unless an alternative is created of course.
      And going out and going back and forth is, excuse me, not serious.
      1. PKK
        PKK 29 January 2016 15: 54
        All our victories are tied to victory in the IMF. To resolve the conflict over Ukraine, a veto right in the IMF is also needed. This will be a step in resolving the dollar issue.
  3. VNP1958PVN
    VNP1958PVN 29 January 2016 07: 01
    Even if the BRICS veto lending to the IMF of Ukraine, the Americans will find other ways to bypass the laws! Definitely.
  4. Ros 56
    Ros 56 29 January 2016 08: 04
    To warn the IMF, to hell with you all for good, Russia will not fundamentally pay its debts, since such a booze has gone, cut the last cucumber. Live with wolves, howl like a wolf.
    1. Altona
      Altona 29 January 2016 14: 06
      Quote: Ros 56
      Warn IMF

      You don’t have to do anything with the IMF. This is an office in our media that is located on the periphery of the financial world, its possibilities are very limited. The creation of a new financial center, ALTERNATIVE and NON-AMERICANIZED, is the primary task.
  5. olegfbi
    olegfbi 29 January 2016 08: 51
    It seems that 2 scenarios are immediately implemented:
    1. Getting BRICS control over the IMF. In this case, the scenario is albeit possible, but rather a little feasible.
    2. Alternative \ ousting of the IMF, through LRICS (development bank, infrastructure investment fund). It looks like this scenario is making strategic bets.

    Something like this.
    1. hartlend
      hartlend 29 January 2016 13: 44
      The key phrase here is something like this. That is, the author himself does not know how but claims. As an element of uncertainty means. I encourage VO readers to use this phrase for its intended purpose. And on the topic of the article I agree with olegfbi that you need to fight inside the IMF and at the same time create your own structure.
  6. dmb91
    dmb91 29 January 2016 09: 22
    BRICS = unification of the countries-colonies against the metropolis. The victory will be ours!
    1. sa-ag
      sa-ag 29 January 2016 09: 41
      Quote: dmb91
      BRICS = unification of the countries-colonies against the mother country.

      Brazil is already playing "American football", South Africa is generally aside from everything that is happening in the world, until it is affected by consolidated action, India and yours and ours, this is not some kind of single monolith, but there is an interesting nuance about the creation of BRICS financed by the GoldmanSachs bank fund
    2. Karlovar
      Karlovar 29 January 2016 12: 46
      Russia and China were never colonies, in the full sense of the word ...
    3. Lelek
      Lelek 29 January 2016 12: 58
      Quote: dmb91
      .Victory will be ours!

      YOU - who is this? Or by the principle - WE ARE JACKETS? what
    4. hartlend
      hartlend 29 January 2016 13: 45
      From the commentary it’s not clear who we are, who will win. Therefore, the minuses scored.
    5. Ros 56
      Ros 56 29 January 2016 17: 47
      Quote: dmb91
      Victory will be ours!

      You will never win. You will sell your mother for your grandmother, by the way that we are all observing, both in the EU and in / in Ukraine, and in some places around the world.
  7. Lelek
    Lelek 29 January 2016 12: 26
    (As a result, the situation was completely absurd. By introducing Ukraine into the IMF program, this same IMF is trying to force Russia to continue lending to the Ukrainian economy, despite the fact that Russia did not receive timely payments from Ukraine on a $ 3 billion loan.)

    A paradox, but not the only one. Ann Brasser has already raised a howl, saying why this nasty Russia does not pay the salaries of PACE officials. Well, think about it, they deprived Russia of full membership in this club of blue, but you still need to pay, because European officials are human, they want to eat, and sweetly. bully
    1. Ros 56
      Ros 56 29 January 2016 21: 02
      Quote: Lelek
      people want to eat, and sweetly.

      Not small, they suck something different, well, you understand. And from the money they let them listen, it’s called how you sink, and you burst.
  8. Balagan
    Balagan 29 January 2016 18: 41
    14,7 is already there. Lure in a BRICS country or a couple of countries with a total capacity of 0,4 and it's in the hat.