$ 80 Billion pledge to IMF by BRIC
As part of a major thrust to wrest a greater say in the running of international financial institutions the four major developing economies of the world BRIC (Brazil, Russia, India and China) decided to invest $ 80 Billion into the IMF in order to replenish its fund aimed at helping out countries that are struggling in the current financial crisis.
India decided to invest up to $10 bn of its reserves in notes issued by the IMF. This was declared by Finance Minister Pranab Mukherjee after a meeting of the finance ministers of Brazil, Russia, India and China (BRIC) in London in September 2009.
China accounted for maximum $ 50 billion and please note that Brazil was the first latin american country ever to join this drive by bearing $ 10 billion along with Russia and india $ 10 billion each.