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The acronym for Brazil, Russia, India, China, and South Africa. The five countries are characterized by their relatively large sizes, fast rates of growth, and importance in regional and global affairs. The BRIGS countries have held formal annual meetings since 2009. They operate and support the New Development Bank as an alternative to the World Bank and Intemational Monetary Fund.
Reference: Oxford Press Dictonary of Economics, 5th edt.
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