SA to use Brics summit to push for own-currency trade
Brics representative in SA Anil Sooklal says ‘We have a multipolar global trading system today far different from the trading system of 20 years ago’
21 August 2023 - 16:08
UPDATED 21 August 2023 - 23:20
SA, which is hosting the 15th Brics summit in Johannesburg this week, will use the gathering to push for Brics countries to use their own currencies when trading with one another, as a mechanism to push for the reform of global political and financial institutions.
This is not a new agenda but rather a continuation of previous Brics declarations and initiatives. For example, the New Development Bank and the Contingent Reserve Arrangement were established in 2014 to provide alternative sources of financing and liquidity for Brics countries and other emerging economies...
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