Brics Ratings Agency’s Political Motivation

The establishment of a ratings agency for Brics (Brazil, Russia, India, China and South Africa) countries is “politically motivated”

The establishment of a ratings agency for Brics (Brazil, Russia, India, China and South Africa) countries is “politically motivated” to suit the context of emerging market economies.

In a telephonic interview with Fin24, Dr Martyn Davies, managing director of emerging markets and Africa at Deloitte, shared views on recent reports that the Brics countries want to “fast-track” the establishment of their own credit ratings agency.

The agency is meant to “better cater” to developing economies, as opposed to the existing agencies - Moody's, Standard & Poor's and Fitch Ratings - which are believed to favour developed economies.

To read the article titled, “Brics ratings agency is 'politically motivated'” click here.

Source: 
fin24.com

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