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Apparently from an article Ive read Christine Legarde has written to the Brics Bank member nations offering to work with them in their efforts. The response was that the IMF can work with Brics under Brics control and Brics conditions.
There seems to be a lot of distrust in the Brics Bank to the IMF. Looks like the Brics is going to save Argentina.
South American leaders hail new BRICS bank
The leaders also used the occasion to voice support for Argentina in a US$1.3 billion (S$1.6 billion) debt battle with hedge funds that could sink the country into default by the end of July. - See more at:
http://www.straitstimes.com/news/wo...-new-brics-bank-20140717#sthash.HMWn6Lsx.dpuf
http://www.straitstimes.com/news/wo...american-leaders-hail-new-brics-bank-20140717
