SCO & BRICS latest news and insights
In an interview with RIA Novosti, Alexey Mozhin, executive director for Russia at the International Monetary Fund (IMF), stated that the collapse of the world monetary system is a distinct possibility. He further elaborated that this will inevitably occur if the downward trend in investor confidence...
By Rhod Mackenzie
According to a report by India Ratings and Research, India has the potential to become an upper-middle-income country by FY 2033-36 and a $15 trillion economy between FY 2043 and 2047.
Until 2006, the World Bank classified India as a low-income country. India moved into the lowe...
The international financial and development institutions should be reformed to reflect the interests of the Global South, Secretary-General Antonio Guterres has said.While the BRICS can play an important and complementary role for developing nations, he stressed that it should not contribute to a fr...
By Zhao Yusha
At the G20 foreign ministers' meeting in Brazil, Brazilian officials called for reforms of the United Nations and other multilateral institutions, and pushed for stronger representation of developing nations. Chinese experts believe Brazil's call speaks for the broader Global South,...
By Rhod Mackenzie
The International Monetary Fund has revised its growth forecast for the Russian economy in 2024, more than doubling its previous estimate from 1.1% to 2.6%. This marks a significant increase in optimism compared to last year's forecast. The IMF forecast shows that the Russian eco...
By Rhod Mackenzie
The Chinese economy is projected to grow by 5.4% in 2023 due to a robust recovery from the pandemic, but is expected to slow down to 4.6% in 2024 due to issues in the real estate sector and weakening external demand, as per a report by the International Monetary Fund (IMF). The r...
