Common Brics currency unlikely: Kganyago
Reserve Bank governor says plan would not work without a common central bank, monetary policy, and fiscal union
03 September 2023 - 07:07
South African Reserve Bank governor Lesetja Kganyago is the latest to pour cold water on a proposal for the Brics bloc of countries to create its own currency.
Speaking to Business Times on the sidelines of the Bank’s biennial conference in Cape Town, he said the concept of a central currency for the group — which took a decision at its summit last week to add six new members — would never work without a common central bank, monetary policy and fiscal union. ..
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