Liu Haifang, a professor at
Liu Haifang said, Finally they got some alternative sources to get funding for infrastructure and they do not come with these conditionalities. So it for me is very symbolic in terms of political meaning, it means the whole world order is not unipolar. It is not a west centered world. It is a multipolar world. African countries trying to get funding do not have to only follow the rules of the developed world .
The "rules of the developed world" Liu referred to are the conditions that the IMF sets forth in exchange for access to loans. Instead of putting up collateral, governments must follow economic policies prescribed by the IMF.
BRICS nations have 40 % of the world's population and 20 percent of global economic output. However, they have been blocked from gaining greater voting rights at the IMF, largely because of opposition in the
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