In recent weeks, the BRICS summit in Kazan grabbed headlines worldwide as emerging economies looked for ways to reshape global power. Yet, as all eyes were on Russia, something even more significant was happening across the world in Washington, D.C. At the quiet annual meetings of the International Monetary Fund (IMF) and World Bank, a hidden decision may have been made—one that could shake up the global financial system even more than anything discussed at the BRICS summit.
At the cente...
