Narendra Modi, representing the Global South, led discussions advocating for systemic reform of international financial institutions like the World Bank and IMF during the BRICS summit.
1 report, 1 independent
Updated Sep 13
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What happened
Narendra Modi, representing the Global South, led discussions advocating for systemic reform of international financial institutions like the World Bank and IMF during the BRICS summit.
Who's involved
What this event is mainly aboutKeep exploring
Part of
BRICS, chaired during its 2026 tenure, demanded greater voice and structural reforms within the IMF and World Bank.Also in this story
- BRICS discussions highlighted the limitations of the bloc due to the Iran conflict and compared the size of its bank to the World Bank.
- BRICS calls for major reforms of Western financial institutions, with India acting as a brake on de-dollarization efforts.
- BRICS expands to include Iran and is seeking alternatives to existing global financial institutions.
- While participating in BRICS, Malaysia has voiced support for reviewing the IMF and World Bank, alongside views that the UN system is outdated and unfair.
The entities involved
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Narendra Modi
Prime Minister of India since 2014
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World Bank
international financial institution
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BRICS
association of Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, and the United Arab Emirates
Related events
- World Bank discusses support for structural reforms.
- Janet Yellen urged the World Bank and IBRD to undertake added reforms and announced lending capacity increases.
- BRICS+ met to discuss efforts aimed at improving international financial relations.
- Amid geopolitical tensions, the BRICS bloc has called for fundamental reforms to the global economic system.
- Uganda government seeks international financial support and a minister addresses concerns of the legislative body.