The adoption of a common currency in the BRICS should be mentioned at the top of the heads of state of this group to be held in South Africa on August 22.
The BRICS group will discuss the possibility of adopting a common currency to reduce the hegemony of the US dollar, Bloomberg reported last week, citing the South African Minister for Foreign Affairs, Naledi Pandor.
According to the minister, “the feasibility of the introduction of a common currency to the BRICS group is a question we must discuss, and which we must debate correctly”.
She indicated that “the debate on the creation of a common currency for the block was launched by the BRICS and other countries which wonder why they cannot use their own currency, instead of the US dollar, to trade”.
However, the head of South African diplomacy was very cautious about the outcome of the discussions on this subject.
“I do not think that we should always assume that the idea will work, because the economic situation is very difficult, and that it is necessary to take into account all the countries, in particular in a context of weak growth when one leaves a crisis,” she said.
The BRICS group (Brazil, Russia, India, China and South Africa) represents 42% of the population of the planet (3.2 billion people) and almost 30% of the global gross domestic product (GDP).
A dozen countries, including Argentina, Iran, Saudi Arabia and Algeria, had submitted requests for membership in this coalition of emerging countries in recent months. The possibility that Tunisia joins them is not excluded.
