Emerging Markets

Ultimately, if we are going to have legitimacy of [the IMF and World Bank], if we are going to have future funding, contribution and buy-in by the wealthiest countries, which will continue to be emerging market economies, we need to see this kind of reform [of giving more voting power to emerging nations] take place.

[There is] a very serious effort to really pull [the BRICS nations] together despite the differences and differing interests. Yes, it will be difficult to put the [new development] bank in place. It will take a lot of time to accumulate the capital.