The creation of the BRICS New Development Bank. Challenges and Potentialities

Abstract

The creation of the New Development Bank of BRICS in July 2014, constituted a
concrete step towards formalizing the group. It is seen by some people as a threat to
the international financial architecture, others believe that would complement it due to
that their objectives differ, and many are skeptical of its actual entry into operation in
the near term.
It is the aim of this article to analyze the challenges and potentials faced because of
deep, even salvageable, structural differences, vision and strategic goals between
each of its members; and because the anticipation of an economic slowdown and
politically difficult domestic situations. The paper covers some of the history of this
initiative; the context of the process to entry into operation and also evaluates its
aspirations and objectives