Opinions
BRICS Financial and Monetary Initiatives – the New Development Bank, the Contingent Reserve Arrangement, and a Possible New Currency
If everything runs smoothly, the BRICS may be able to take the decision to create a currency during the Summit in Russia next year. By the Summit in Brazil, in 2025, the BRICS will perhaps be able to announce the first steps towards its establishment, writes Paulo Nogueira Batista, Vice President of the New Development Bank (NDB) in 2015–2017.