BRICS No to World Bank: What's going on

Are the World Bank and IMF Truly Serving the Global South, or Is It Time for Change? The effectiveness of the World Bank and the International Monetary Fund (IMF) has come under increasing scrutiny from BRICS nations, which argue that these institutions are dominated by Western interests and fail to address the needs of developing countries. Critics highlight the stringent loan conditions imposed by the World Bank and IMF, which often do not align with local priorities and can exacerbate economic and social challenges. Indian Prime Minister Narendra Modi has publicly criticized the World Bank's governance structure, describing it as outdated and disproportionately favoring Western nations. Modi has called for a more equitable system that provides greater representation and decision-making power to developing countries. This stance reflects India's broader push for reforms in international financial institutions to ensure fairer treatment of emerging economies. South Africa's e