Emerging Markets

The [International Monetary Fund's] executive board is really the policy-making body of the institution. If you have a stronger voice in the executive board, you end up affecting the policies and the program of the institution.

The question is: do these BRICs countries have enough in common to make [a BRICs development] bank instrumental to their objectives? They all have a huge need for infrastructure [investment] and share a dissatisfaction with the lending policies of the World Bank, so there’s a base on which they could build.