Toward a ‘Rio Consensus’  By |  Conveniently scheduled at the
end of the World Cup, leaders of the BRICS countries (Brazil,
Russia, India, China and South Africa) meet in Brazil in mid-
July for a meeting that presents them with a truly historic
opportunity. While in Brazil, the BRICS countries hope to
establish a new development bank and reserve currency pool
arrangement.  This action could strike a true trifecta—recharge
global economic governance and the prospects for development, as
well as pressure the World Bank and the International Monetary
Fund (IMF) to get back on the right track.     What is more, the
operations of the World Bank and the IMF are perceived as rigged
against emerging market and developing countries. The unwritten
rule that the head of the IMF is always a European and the World
Bank chief has to be an American is only a superficial but no
less grating public expression of that.   It wasn’t always that
way. As Eric Helleiner shows in one of his two new books,
“Forgotten Foundations of B