“This credit crunch, triggered by the fight against inflation in Western countries, is an important factor in the huge rush to join the BRICS group. Many crisis-ridden countries, such as Argentina and Venezuela, which are currently seeking membership, are simply hoping to tap alternative sources of financing – especially from China.”

  • livus@kbin.social
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    1 year ago

    Yeah this is the rumour that’s circulating but there haven’t been any formal announcements about BRICS currency.

    I think the bank is happening though.