|
By Ivaylo MARKOV, Managing Partner of Thales Capital
The BRICS alliance is making more and more progress in developing its common currency. At the same time, it is encouraging the use of local currencies by member countries, writes Global Times. This strategy is intended to reduce the pecuniary costs associated with the increased dependence on the US dollar.
A working group composed of the finance ministers of the BRICS member countries will meet in the course of the semester to make progress in discussing key issues. This potential currency independence changes the plans of some countries to join one or another union. Instead of the EU is Serbia for example considering joining...BRICS+? Whether Belgrade will go west or east is a question of...
|