BRICS’s first summit since its enlargement in 2023 mentioned proposals to cut back reliance on US greenback and SWIFT system.
BRICS has virtually doubled in dimension in 2024 and its financial and political affect is rising.
The group of rising economies now represents about half the world’s inhabitants and greater than 1 / 4 of world gross home product.
However critics say there are deep variations between its members and the alliance has struggled to outline its goal.
BRICS largely desires to cut back international reliance on the US greenback.
Launching a rival to the SWIFT worldwide fee system was excessive on its summit’s agenda in Russia this 12 months.
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