6th BRICs summit in Fortaleza, Brazil will be remembered for $100 bn BRICs Development Bank & Reserve Currency Pool. China is the highest ($41) contributor of this $100bn CRA while newest member South Africa with $5bn & rest with $18 each. There is also creation of BRICs Stock Alliance to cross list derivatives and proposal of Energy Alliance.
BRICs nations have around 20% of world GDP but they have just 10.3% for the IMF quota and not only that the presidency of this IMF is reserved for a European. Somewhere I was seeing GDP & IMF voting right figures of some nations –