BRICS Should Be Ready for Dollar Collapse – Russian IMF rep
The BRICS group of nations could offer an alternative currency in the event of a collapse of the dollar and the international monetary system, according to Russia’s executive director at the International Monetary Fund, Alexey Mozhin.
In an interview with RIA Novosti published on Friday, the expert noted that the shortcomings of the current financial system are becoming more apparent and that many publications have started to mention BRICS “in the context of the fact that this association can offer an alternative.”
Mozhin explained that it is possible for the economic bloc’s member countries to create a currency that would be “built on a basket of currencies of the five member countries,” which would include the Chinese yuan, Indian rupee, Russian ruble, Brazilian real, and the South African rand.
“Such a proposa
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