In recent months, the BRICS economic alliance has been clear about its goals. The group strongly opposes the US dollar, and its efforts towards a multipolar world have presented a challenge to the global economic system. Many expect this perspective to create a new currency pathway for member countries.
As the alliance expands, one country has decided to accelerate the process of de-dollarization. Iran, specifically, has expressed hope to introduce a BRICS digital currency in 2024, enabling countries to abandon the US dollar in the upcoming year.
“By 2024, I hope that these economic and financial pillars, especially banking and finance issues, payment systems, digital currency, common currency, national currency exchange, etc., will accelerate and become operational,” stated an Iranian representative of BRICS according to recent reports.
However, the entire alliance aims to temper expectations regarding such development. Nevertheless, increased usage of local currencies has become an important part of BRICS initiatives in the new year. Whether the achievement of introducing a domestic digital currency will become a reality remains a question only time can answer.
FAQ:
1. What are the goals of the BRICS economic alliance?
The BRICS economic alliance opposes the US dollar and aims to create a multipolar world.
2. Does the BRICS alliance plan to introduce a digital currency?
Yes, Iran has expressed hope to introduce a BRICS digital currency in 2024.
3. What economic and financial aspects are expected to be accelerated?
Economic and financial pillars, banking and finance, payment systems, digital currency, common currency, national currency exchange.
4. What is the current state of BRICS initiatives?
BRICS aims for increased usage of local currencies and the development of digital currencies, but it limits expectations regarding full de-dollarization.
Definitions:
– BRICS: An acronym for the countries participating in the economic alliance – Brazil, Russia, India, China, and South Africa.
– De-dollarization: The process of reducing dependence on the US dollar by other countries.
– Digital currency: A type of currency that exists only in the digital world.
Related links:
– Official BRICS website: [https://www.brics2021.gov.in/](https://www.brics2021.gov.in/)
– National Bank of Poland, which tracks currency matters: [https://www.nbp.pl](https://www.nbp.pl)
The source of the article is from the blog oinegro.com.br