BRICS  (Brazil, Russia, India, China and South Africa) have plans for a joint development bank to be launched in South Africa early next year. Leaders from the five countires met last month in New Delhi to discuss setting up the bank that will fund infrastructure development and act as an alternative to the World Bank and other finance bodies such as the IMF.

I want to take a huge sigh of relief…but I think I will wait it out until the bank is actually operational.