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Exploring the use of a common currency and/or payment mechanism amongst BRICS countries

09 March 2017
12:30 - 14:00

Date: 09 March 2017  | Time:  12h30 – 14h00  | Venues: Pretoria, Durban, Cape Town

Presenters: Dr. Jaya Josie, Head, BRICS Research Centre, Human Sciences Research Council (HSRC), Prof Ronney Ncwadi, Head, Department of Economics, Nelson Mandela Metropolitan University (NMMU), & Babalwa Siswana, Researcher, BRICS Research Centre, Human Sciences Research Council (HSRC)

Following the 2007/08 Global Financial Crisis (GFC) some BRICS countries in recent years are experiencing a slowdown in growth and development. Economic and development indicator trends for Brazil, Russia and South Africa in particular have been relatively weak compared to China and India. An important factor impacting on these countries in particular, and BRICS in general, is the role of the use of established developed economy foreign currencies in BRICS international trade and financial transactions. To mitigate the influence of this factor BRICS has established its own New Development Bank, and in addition, is considering setting up its own credit rating institutions, and the use a common currency and/or payment mechanism to be used by BRICS member states. This paper explores the use of a common currency for the BRICS group.

Kindly RSVP by 8 March 2017

The HSRC seminar series is funded by the Department of Science and Technology (DST). The views and opinions expressed therein  as well as findings and statements of the seminar series do not necessarily represent the views of DST.

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