India’s commitment prompts BRICS to aid Euro zone

India’s promise to inject $10 billion into the International Monetary Fund (IMF) triggered other BRICS member nations to pledge various amounts for bailing out Euro zone. 

• At the G-20 meet, albeit Chinese President Hu Jintao had already spoken before Prime Minister Manmohan Singh, it was only after Singh concluded his speech, Jintao again stood up to announce China’s $43 billion assistance to the IMF.

– Before the G-20 meetings, $360 billion had already been promised by various nations

– Russia and Brazil committed assistance of $10 billion each

– South Africa promised about $2 billion

Month: Current Affairs - June, 2012