BRICS Push for Financial Reform at Landmark Summit - Devdiscourse

Source: Devdiscourse

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DW NOTE

BRICS summits have produced exactly one substantive institutional outcome in twenty years: the New Development Bank, which has disbursed $33 billion since 2015 while the World Bank deployed $72 billion in fiscal 2024 alone. Meanwhile the dollar's share of global reserves rose to 57.13% in Q1 2026 — up from 56% — as oil hit $101 and the Hormuz closure entered its 195th day. Reform talk is cheap when your members still settle energy trades in the currency they claim to be replacing.

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