BRICS COUNTRIES ROLE

*The BRICS countries, comprising Brazil, Russia, India, China, South Africa, and newly joined members Iran, Egypt, Ethiopia, and Argentina, play a significant role in world politics. They aim to enhance the influence of developing nations in international affairs and advocate for reforms in global governance.In recent years, particularly with the expansion of the group, BRICS has sought to consolidate its position by increasing cooperation on various issues, including national security and economic development. The organization promotes a vision that emphasizes the necessity for a greater voice for developing countries in global forums.BRICS also presents an alternative set of economic and diplomatic options to traditional powers, rather than aiming to dismantle existing structures. By advocating for respect for cultural diversity and multilateralism, BRICS aspires to be a constructive influence in global dialogues, addressing concerns like geopolitical tensions and economic disparities. The group's evolving role highlights its ambition to reshape global political dynamics in favor of emerging economies.

*The idea of BRICS countries "quitting" the International Monetary Fund (IMF) is not straightforward and requires a nuanced understanding of their positions. While there have been discussions and criticisms among BRICS nations regarding the IMF's governance structure and its approach to global financial stability, an outright withdrawal seems unlikely for several reasons:Critique of IMF Policies: BRICS countries have often criticized the IMF for its decision-making processes, which they perceive as being dominated by Western powers (specifically the U.S. and European countries). They argue for reforms that would grant developing countries greater influence within the institution.Parallel Institutions: Instead of entirely quitting the IMF, BRICS has taken steps to create alternative institutions, such as the New Development Bank (NDB) and the Contingent Reserve Arrangement (CRA). These aim to provide financial support and alternatives to the IMF, especially in crisis situations.Utilization of the IMF: Despite criticisms, BRICS nations still utilize the IMF for access to financial resources, technical assistance, and as a platform for international dialogue on monetary issues. Quitting might not be pragmatic given the benefits provided by the IMF, particularly during financial crises.

Global Economic Interdependence: The interconnected nature of the global economy means that withdrawing from the IMF could have significant repercussions, not just for BRICS countries but for the global financial system as a whole.Calls for Reform: The BRICS nations are more likely to pursue reforms within the IMF rather than a complete withdrawal. They seek to change the distribution of voting rights and decision-making power, rather than abandoning the institution outright.In summary, while BRICS countries may express dissatisfaction with the IMF and strive to enhance their own financial institutions, an outright quitting is unlikely. Instead, they are more involved in advocating for reforms while continuing to navigate their relationship with the IMF.