This is an interesting way to undermine the global currency. If the IMF funds are not available for whatever valid use in a foreign country, then the BRIC’s solution is made available in LOCAL currency, in order “to forward a necessary need.”
With the American dollar currency system being challenged, it will not be long that it is replaced with the alternative system BRIC’s have agreed to.
Does this bode ill for the U.S.?
Time will tell.