BRICS continues its advance, one step at a time

In all the discussions, it's clear that the BRICS's main drive continues to be setting up a credible, alternative financial architecture privileging the developing world -- something at which the Bretton Woods system miserably failed.

In parallel, the BRICS keep on trying to change the -- rigged -- system from the inside; "We call for the advanced European economies to meet their commitment to cede two chairs on the Executive Board of the IMF. The reform of the IMF should strengthen the voice and representation of the poorest members of the IMF, including Sub-Saharan Africa." It won't happen anytime soon -- tough. Last week, the IMF announced it has postponed the timetable for completing its review of quotas until 2019.

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