In late February 2023, U.S. President Joe Biden announced that the United States had placed the nomination of Ajay Banga to be the next head of the World
The BRICS Bank is a young institution compared to the World Bank, but it has considerable financial resources and will need to be innovative in providing assistance that does not lead to endemic debt. Whether the new BRICS Think Tank Network for Finance will be able to break with the IMF’s orthodoxy is yet to be seen.