https://indianpedia.org/index.php?action=history&feed=atom&title=BRICS_Contingent_Reserve_ArrangementBRICS Contingent Reserve Arrangement - Revision history2026-07-30T20:21:33ZRevision history for this page on the wikiMediaWiki 1.45.4https://indianpedia.org/index.php?title=BRICS_Contingent_Reserve_Arrangement&diff=387733&oldid=prevWasim4gold at 23:58, 9 January 20222022-01-09T23:58:42Z<p></p>
<p><b>New page</b></p><div>{{Short description|International fiscal framework}}<br />
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The '''BRICS Contingent Reserve Arrangement''' ('''CRA''') is a framework for the provision of support through liquidity and precautionary instruments in response to actual or potential short-term balance of payments pressures.<ref>{{cite web|url=http://brics.itamaraty.gov.br/media2/press-releases/220-treaty-for-the-establishment-of-a-brics-contingent-reserve-arrangement-fortaleza-july-15|title=Treaty for the Establishment of a BRICS Contingent Reserve Arrangement|access-date=23 July 2015|work=Government of Brazil|archive-url=https://web.archive.org/web/20150925234418/http://brics.itamaraty.gov.br/media2/press-releases/220-treaty-for-the-establishment-of-a-brics-contingent-reserve-arrangement-fortaleza-july-15|archive-date=25 September 2015|url-status=dead}}</ref> It was established in 2015 by the [[BRICS]] countries: Brazil, Russia, India, China and South Africa. The legal basis is formed by the ''Treaty for the Establishment of a BRICS Contingent Reserve Arrangement'', signed at [[Fortaleza]], Brazil on 15 July 2014. It entered into force upon ratification by all BRICS states, announced at the [[7th BRICS summit]] in July 2015.<br />
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The objective of this reserve is to provide protection against global liquidity pressures.<ref name="allabout">{{cite news|url=https://www.washingtonpost.com/blogs/monkey-cage/wp/2014/07/17/what-the-new-bank-of-brics-is-all-about/|title=What the new bank of BRICS is all about|newspaper=The Washington Post |access-date=20 July 2014}}</ref><ref name="ready">{{cite news |url = http://in.rbth.com/economics/2014/07/10/brics_bank_ready_for_launch_-_russian_finance_minister_36599.html |title=BRICS Bank ready for launch - Russian Finance Minister |publisher= Russia & India Report |access-date=20 July 2014}}</ref><ref name="rics">{{cite news|url=http://in.rbth.com/world/2014/07/17/brics_currency_fund_to_protect_members_from_volatility_-_russias_top_ba_36767.html|title=BRICS currency fund to protect members from volatility - Russia's top banker|publisher= Russia & India Report|access-date=20 July 2014}}</ref> This includes currency issues where members' national currencies are being adversely affected by global financial pressures.<ref name="allabout"/><ref name="rics"/> The CRA is generally seen as a competitor to the [[International Monetary Fund]] (IMF) and along with the [[New Development Bank]] is viewed as an example of increasing [[Global North and Global South|South]]-South cooperation.<ref name="allabout"/><br />
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The capital of $100 billion is distributed as follows:<ref name="bp">{{cite web |title = BRICS Development bank top on Agenda of 6th BRICS Summit |url = http://news.biharprabha.com/2014/07/brics-development-bank-top-on-agenda-of-6th-brics-summit/ |work=IANS |publisher=news.biharprabha.com |access-date=15 July 2014}}</ref> The maximum access states can request from the Arrangement is half (China) to twice the amount of capital contributed.<br />
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{| class="wikitable sortable" style="text-align: right"<br />
! Country !! Capital contribution<ref name="bp"/><br>(billion USD) !! Access to Funds<br>(billion USD) !! Voting Rights (%)<ref>http://www.wantchinatimes.com/news-subclass-cnt.aspx?id=20140719000069&cid=1203{{Dead link|bot=TheWikiExpert |fix-attempted=yes }} Beijing dominates voting rights of BRICS reserve pool</ref><br />
|-<br />
| align=left|'''{{BRA}}''' || 18 || 18 || 18.10<br />
|-<br />
| align=left|'''{{CHN}}''' || 41 || 21 || 39.95<br />
|-<br />
| align=left|'''{{IND}}''' || 18 || 18 || 18.10<br />
|-<br />
| align=left|'''{{RUS}}''' || 18 || 18 || 18.10<br />
|-<br />
| align=left|'''{{RSA}}''' || 5 || 10 || 5.75<br />
|-class="sortbottom"<br />
| align=left|'''''Grand Total''''' || 100 || 85 || 100.00<br />
|}<br />
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The arrangement is scheduled to start lending in 2016.<ref name="ready" /><br />
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==See also==<br />
*[[New Development Bank]]<br />
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==References==<br />
{{Reflist}}<br />
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==External links==<br />
* [https://web.archive.org/web/20150925234418/http://brics.itamaraty.gov.br/media2/press-releases/220-treaty-for-the-establishment-of-a-brics-contingent-reserve-arrangement-fortaleza-july-15 Text of the Arrangement]<br />
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[[Category:BRICS]]<br />
[[Category:International finance institutions]]</div>Wasim4gold