BRICS and the IMF Debt Traps. What Can the Contingent Reserve Arrangement Do for the Global South

An “alternative” monetary fund to the IMF has been created, but, ironically, it needs the IMF’s blessing to be used. It was created in a different context than today’s, in which we had yet to experience such a sharpening of the contradictions between the imperialist powers and the global majority. But history demands a change, writes Marco Fernandes, editor at Wenhua Zongheng International

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