BRICS to Leave IMF and WTO: Who benefit?
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- Опубликовано: 26 сен 2024
- At the forthcoming BRICS summit in Kazan, a major point of discussion will be the pressing need for reform in key global financial institutions, notably the International Monetary Fund (IMF) and the World Trade Organization (WTO). Russian Foreign Minister Sergey Lavrov has underscored the urgency of these reforms, stressing that they are essential for enhancing global economic governance and ensuring that emerging economies gain a more substantial role in shaping international policies.
The BRICS nations are pushing for reforms that reflect the shifting dynamics of the global economy. They contend that the existing structures of the IMF and WTO disproportionately favor developed countries, leading to a persistent underrepresentation of developing nations. Central to their demands is a revision of the IMF's quota system, which they argue should be updated to better represent the economic size and contributions of emerging economies. Additionally, the BRICS countries are calling for the revitalization of the WTO’s dispute resolution mechanism, which has been paralyzed due to delays in appointing new members to its Appellate Body.
This video will explore the growing discontent among Global South nations toward the IMF and WTO, detailing specific cases where their policies have adversely affected borrowing countries. It will also examine proposed solutions from these nations, which aim to address the challenges and inequalities embedded in the current international financial system.
ITALY Move Towards BRICS and No to EU: Watch it here: ruclips.net/video/HIMFWc73bVs/видео.html
Wow ,that good and smart ,we affrican ,areb support u ,dollar is evil and conely.
Benefit everybody who leaves the IMF and WTO
IMF's destroying instead of building.
Saying goodbye to Loan Sharks. Great move!
IMF loans are interest free
@@GARRYJackson-q1h yes true, but their conditions are quite capable of bringing down countries... 😂😂
@@BanguSomaraz but have they ever bought down a country since 1944 when it began
Please
What's the conditions please @@BanguSomaraz
it's about time for changes!
So happy they are challenging the monopoly of the IMF which in my view is a racket
THE IMF IS A GLOBALIST CRIMINAL ORGANIZATION--They are fully aware of what these loans are doing to the economy of nations--this is a demonic entity-Western nations do not have such problems getting loans from the IMF or World Bank, its f-f-cking criminal
💯
@@ADCDicaro AS VENEZUELA IS EXPECTED TO BE ADMITTED TOO. WITH THIS ??!! BRIC NATIONS HAVE 64 % OF THE ENERGY FORUM ! JAPAN HAS DUMPED 75 % OF U.S. DEPT. WEAPONIZING OF THE U.S DOLLAR?? PETROL DOLLAR ???!! BRIC NATIONS WILL CREATE RESPECT 🙏 FOR IMPROVEMENT WITHIN THEIR COUNTRIES FUTURE GROWTH AND ECONOMICS ?? WITH CONSTRUCTIVE CRITICISM TOWARDS HUMAN RIGHTS !!!
Y
Yes,of course, it's part of an empire 😢
Beauitful idea, Brics we need to change the game, we need our parliament, bank, our military, and stop hypocrite and manipulater
I hope they get their military in order and mobilized for action
Loans from IMF and World Bank for African and developing countries are paying far far greater interest rates compared to the western countries paid.. over more than 10% more. This inbalance crippled the poor countries. The loans are also tied to a lot of unfair conditions.
Africa have just said no to loans from the imf and have instead chosen China to build in infrastructure and Russia to support now that American troops have been told to leave..
@@rogerbritton2106 I am definitely not a supporter of the West but China does nothing for austerity. They obviously have an agenda similar to West. Nations in the past who have taken loans from China or where China has built infrastructure are suffering immensely right now. It is time for Africa to unite and stands on its own feet, if it does not want to be exploited.
Europe has never been able to produce any natural resources. They have been stealing ALL natural resources from Africa and Canada and then insult us by asking for a loan??!!!
Up to 27% interest rates
This would be excellent news for the humanity
BRICS need to form an Alternative Monetary Fund😇
They are working on it :-)
Austerity, privatization and trade liberalization are keys to regime change by outside forces.
Anyone who says otherwise is living under a rock and not keeping an eye on global events throughout their life times.
When studying history every dominant power typically lasts 400 years before falling apart it just looks like its time for change thats all.
That just opened my eyes 😂
WTO reforms are so needed
Those who benefit from the WTO will not want significant reforms. It is best for the BRICS to leave WTO and IMF
El fondo monetario internacional lo único que hace es traer deudas impagables imponiendo condiciones inaceptables, se tienen que hacer cambios drásticos en los beneficios sociales,de salud, medicamentos, seguridad y en otros muchos aspectos que no beneficia al país deudor. Es una forma indirecta de controlar cualquier gobierno que solicite un préstamo. 👍🇵🇷
@JesusG..., you're correct. 👍👍
IMF and World Bank are funded and owned by western bankers and corporations. They used the loans to destabilize the economy of the borrowing countries, thus easy for regime change caused by social unrest. Then, easy to steal the natural resources of that country. That's why IMF and World Bank have many restrictions and covenants, austerity policies, price cut and social programs reductions designed to cause economic pains and economic hardships, not solutions. There is no infrastructure development, technology transfer, low borrowing interest rate or innovative economic development for the borrowers. It is a debt trap, which they accused China. So, what they accused others of doing are what they did. 😂 Example of countries facing economic bankruptcy are Sri Lanka, Pakistan, and Argentina.
if true, who are the IMF controlling countries management?
Yahudi zeonis
zyos in eu usof a
Hence the chaos that the UASS is creating in retaliation to this undeniable change towards multipolar world. 🙄
BRICS group should make their owned /controlled institutions like;banking for fair trade in payment/world Brics Trade Organization/BRiCS UN others
They're in the process of that?
Just bypass them and start to form your own.
That's exactly what BRICS+ are doing.
Remember where it says Congress shall print the money and determine its value? We're nowhere near that arrangement, so the contract is broken.
The Congress shall "Coin Money and set the Value thereof". Printing is Not mentioned. Big difference.
@@l.a.mottern3106 I know and the government does still stamp all the coins. There's no profit in it so big bankers aren't interested in that.
The idea was Congress creates the money, no outside agency.
A system based on a reserve currency originating from a country 35trillion in debt isn't a viable system. If they make a move away now they may avoid the 500million loss that Russia has to deal with happening to them.
@@zoo-xibbitjayne2081 ..actually NATO/ G7 stole USD300B ++ from Russia
Wonderful news Sir thank you for the truth.
The IMF, WTO, these organisations are the rabbit hole from the rich west.
This would end IMF monopoly and the poverty and instability it causes to developing countries
I have always remembered a BBC radio discussion featuring the formation of the WTO . There was a warning issued that many concerns had been left unaddressed and that problems were sure to erupt later. They have indeed.
Nations that act with their heart's set on money will fail, while Nations that act with their hearts set on justice and humanity will find victory and unity. Unity for humanity is true power.
BRICs têm urgência na implantação de todos os sistemas em todas as áreas. Em concreto na financeira, económica e de geoestratégica.
Brics currency is way too risky, three different countries in that block have potential to go to war with each other, India and China have been battling each other over a disputed border with the last 3 years.
Why you purposely put Malaysia flag for during Indonesia issue. Indonesia is not Malaysia, or vice versa. Very rude, respect both countries. If you plan to get engagement for ppl to comment more in vide, you are playing dirty
Wish them success from New Zealand
YES TO ALL HUMANKINDS ON THIS UNIVERS, BRICS CURRENTLYS MACHINATION IS BIGGERS DAN THEY ALL, PLEASE TO ALL HUMANKINDS ON THIS UNIVERS, YUDA JOHN THE BAPTIST ORIGINATOR OKOMFO ANOKYE❤
Mais um triste vendido e vassalo.
Yes 👏 it’s such a beautiful organization with great bureaucratic policies and amazing unknowns to lots of lingos of business owners and misleading those borrowers unfortunately putting them in unfamiliar bounds in international financial dealings…& bound by the harshness’s agreements, detractors and stirring of ill public anger 😠 and suspicion of the whole business benefactors to their own interests/country…
Many of the IMF policy only thought of stabilize financial system, but it hurt people by rocketting proces, not helping at all
IMF loans are deadlier than Shylock’s ….
I’m happy the BRICS is challenging the WTO on structural reforms that will better favor emerging economies of Ghana and other developing countries
Smaller countries that provide most of the natural resources to the industrial countries deserve a total retail of the IMF, etc. Enough of all these international organizations' policies favoring industrialized countries that cause most of the climate changes, etc.
It's about damn time!!! Bravo for the smaller countries.
*Great for them. Brilliant moves* ❤❤❤
“People often say that motivation doesn’t last. Well, neither does bathing-that’s why we recommend it daily.” -Zig Ziglar
Once the BRICS UNIT currency is operational, oil, commodities and goods will perhaps only be sold from BRICS countries in the same unit creating a soaring demand for it (basically replacing the USD ) . You have not seen inflation yet in the US! You just can’t prepare for that. Basically what the rest of the world has suffered for over 50 years making payment for oil, etc in USD will be shifted to the US when the demand for it falls precipitously and the BRICS UNIT climbs !!
AMF and ATO u mean ?
Excellent 😊
Question ... at 4:10 / 9:39 the Indonesian flag appeared when the topic was about Indonesia getting help from IMF during the Asian financial crisis ... as the talk continues about Indonesia, the flag was changed to the Malaysian flag [ 4:18 / 9:39 ] ... what was the purpose since the topic was still about Indonesia?
Thank you for this great job.
Most people will consider this a long overdue strategic move.
IMF and WTO are agencies of the USA.
There is history to show how horrible their policies are to certain lending countries and trading partners.
Que bien, asi habran mas fundos para naciones democraticas..
Great commentary, very informative‼️
Its a ruse. They have just restructured and rebranded themselves.
Reform to adapt to a changing geopolitical environment, deep poverty and a shifting landscape; or simply disappear altogether. Meanwhile the global North does not an ajustement program given their monstrous debt and declining social security. Why?
❤ The almighty God knows why?❤.
💯😎👑👌👁️💪👊 let's go #BRICS 😎👑
Great news if BRICS leaved IMF and WTO US and European will be the kings of 50 colonies countries, so they can sleep in peace with no worries of competition 👍👍👍👍👍👍👍
Time to end IMF scams
Mungkin jika itu kapasitasnya seluruh dunia kita sebut sebagai assosiation tapi jika bukan kita sebut affiliation , tinggal skope yang ingin di jangkaunya
IMF works for wealthy nations interests
The heading is so non sensical. How can BRICS exit IMF and WTO when each brics county is still a part of IMF and WTO. Besides, each of these countries fought tooth and nail to become part of WTO, especially China, why would they leave it? For anyone having even the slightest understanding of international commerce, knows that most countries won’t trade with you extensively unless you are a member of WTO,
It’s can not be stopped ! Ukraine sealed the fate of the IMF WB BIS !
Countries like PAk can take unabated loan from IMF and world bank if BRICS leave these institutions.So such country would benifit much.
The IMF has been a problematic organization for Decades.
At last freeing oneself from Western instruments of domination.Also form own world court and UN.
Development Strategies unique to Developing Nations, if implemented without prejudice and maintaining equality of treatment for all under a new system governing the Trade and Finance, most countries will benefit. Can the same results be achieved by amending the structure and policies of existing WTO and IMF like lenders? sinec a new Monetary Policy with extensive reach could take time and adjustments to the existing systems already evolved through a a long period of time, where the developing Nations may lag behind.
The force of having to comply or be adopted to a broken trust is faul play
Interesting, "Paralyzed by new members to it's body". Sounds like "plants" to disrupt to me.
Malaysia didn’t accept IMF loans. Propagating wrong Information in this video. Please edit it before broadcast.
good information, but your tag line is not only misleading, but an outright lie. You never talked about BRICS "leaving" the IMF or WTO in the video. Do better.
Once in a London gym, in the jacuzzi, we sat, minding our business and then an Englis dude who was on the other side of the pool, thinking he rules the world, being Englis and a Westerner told one of the guys in the jacuzzi (a small dude), what he can or can not say
So if the Englis thought it’s fine he could say, otherwise “shut up” and the Englis dude inflated his bug tall body
The small dude said out loud, they have been trying to enslaven India for 200 years, 200 years! And now you think you can scare me or tell me what or what’s not to be said? Upon hearing that, the Englis dude disappeared into oblivion. We never saw him in that gym ever after 😹😹😹
Western circus 🎪 show has entertained us long enough
But everything has limits under the sun
:)
HowDoes it help if BRICS leave .if anyone borrows ,one has to to frugal austerity and impose self discipline at the same time lender shoouldloan should be conducive for growth of borrowing national.what is the path ahead blaming is one we are looking for constructive measures from BRI
CS
THEM.
After end of second world war, formation of such organisation, must change with modern era. Population based proportional methods, may enhance its survival.
build a brics video sharing platform accessible in all member countries without vpn, which pays ad money in brics currency to content creators
Leave them better if they don't respect country members.
I agree totally with Brics
So… are they leaving IMF and WTO?
All I heard in this video are grievances.
These loans are meant to first and foremost generate returns for the borrower or developed countries. I believe that developed countries use their workers pension funds to generate high interest returns by providing parasitic loans to developing countries. They can't stop doing this because their stock market doesn't provide enough returns to fund the aging population retirement plans. Between, governments, hedge funds and private capital they are all in to suck the productivity and returns of developing countries resources and capital. This is all facilitated by the WTO and the IMF
👏👏👏👏👏👏👏👏👏👏👏👏👏👏👏👏👏👏👏👏👏👏 THE NEW WORLD AND MORE DECENT ORDER HAS COMMENCED.... WELL DONE BRICS... CHEERS FROM AUSTRALIA
How many 100’s of billions go to weapons directly from IMF.
So a loan is taken and measures are implemented to pay it back and now people are complaining. Sounds like the countries want to take the billions and not pay them back , might want to review how loans work. Take some courses in economics OP and you might grasp why a bank loaning billions want reasonable measures to ensure repayment.
100 %
tariffs here we come
Long overdue
About time.
Chin Pakistan friendship zindabad
The WHOLE video covered IMF and WTO disadvantages, but did NOT discuss in what ways LOANS IN BRICS are fairer and less problematic.
.. if your not a part of the BRICS mandate then your enquiries are of no consequence. If your country is a party too BRICS+ then you would not be asking the question, your concerns would be clearly addressed by the multi-polarity policies of the agreed interaction terms of involvement. Have a good day.
If your country is a member then it would be wise to seek out your own Govts agenda & its desired outcomes for your country.
YES 👏🏼👏🏼👏🏼👏🏼👏🏼
not just third world countries, but also uk where life is getting harder as the govt borrows more and more.
BRICS :
BRAZIL : Brave 🇧🇷
Russia : Royal 🇷🇺
India : Intelligent 🇮🇳
China : Clever 🇨🇳
south africa : Sturdy 🇿🇦
yeh boi
What's Modhi doing in the photo? Lol..
IMF just want to keep the petro dollar going
About time they got out of these american run sewers.
👍👍👍👍👍
The world will benifit from any grouo that does jot follow the WTO OR NATO
ONLY "PTOFIT"DOES
That is like your teen age kid says he doesn’t want his allowance anymore to buy dope because he is now a dealer😢
This is my friends called “Neocolonialism”
IMF ================== I'M FINISHED
That's must Chinese dept trap diplomacy. 😅😅😅
Namosteys might backstab bricks members lol
YEAHHH FINALLY OUT OF CHAINS😅😅
No more USA bully
The time of the West has finally fallen
MAFIA
BRICS MUST ALSO LEAVE THE UNITED NATIONS
Im so tired of this fascist system. I welcome china and russia
FLEX PLAN LEVERAGE COUNTRIES (GDP) EXPORTABLE GOODS TARIFFED LINKED LOAN RECOUPING SUPPLY DEMANDED GOODS PER COUNTRY TRADE IMPORTING WAIVER INTEREST LOAN ANNUAL REDUCTION RATE ALLOWANCE