Few things have been debated more thoroughly and at greater length than the IMF voting system. The current system is the product of more than a decade of negotiations.

The proponents of the "Western yoke" theory in the BRICS group claim the developing world is prejudiced in various ways by the already developed world, which has unfairly tipped the balance in their favour for generations, structuring the world so they can grab most of the global wealth for themselves.

To correct this obvious global flaw, the "Global South" needs to find its voice and assert its presence in the world. Hence, China, for example, will be pushing the BRICS bloc to become a full-scale rival to the G7, the Financial Times is reporting today.

It's often claimed that the most obvious example of this inequitable power disparity is evident in the Bretton Woods Institutions - the IMF and the World Bank. That's why Minister in the Presidency, Nkosasana Dlamini Zuma - a former foreign minister - told the BRICS Youth Summit that these institutions have "served the enduring and hegemonic principles of unipolarity, principally in pursuit of Western dominance and control of wealth-producing resources from the developing world".

Proof of the bias of "the West" against the "Global South" is provided, for example, by the voting rights at the IMF. But is this true?

There is certainly some evidence,...