Glazyev: Launching BRICS currency is a promising idea
Sergey Glazyev, Minister of Integration and Macroeconomics of the Eurasian Economic Commission, described the creation of a new BRICS currency as a promising and unique idea.
“The idea is to create a system of new principled financial relations on the basis of an international agreement, as this has not happened in the world so far,” he said.
He added that there was a previous similar experience with the convertible ruble, which was used within the framework of the Council for Economic Mutualism.
He pointed out that within the framework of BRICS, there is now talk about a model for a digital international currency that would be based on a basket of national currencies of the participating countries interested in this system.
He added that the BRICS countries must now establish an international group of experts to begin designing and developing a new currency model.
The representatives of the BRICS countries indicated their intention to formulate a new form of the currency, and ideas for its development may be presented at the summit of the group this year in South Africa.
- al-Mohammad