Analysis of the possible BRICS currency in 2024:
The potential launch of the BRICS currency in 2024 is an intriguing topic with major implications on the global financial scene. Here are some points to consider:
1. BRICS Expansion: The addition of new members, including Saudi Arabia, the United Arab Emirates, and Iran showing interest, could strengthen the bloc financially and accelerate the development of the BRICS currency.
2. Financial support: Financial support from new members, particularly Saudi Arabia and the United Arab Emirates, could be crucial for the development of the new currency.
3. Intention to Diversify: The stated intention to diversify payment options and reduce dependence on the US dollar underlines BRICS' desire to move away from traditional currencies and explore alternatives.
4. Previous statements: Previous BRICS statements in August 2023 indicate that the creation of a BRICS currency is seen as a way to strengthen trade relations and reduce vulnerabilities.
5. Divergence of opinions: Although there are divergent opinions on the implications and potential of the BRICS currency, its inclusion in alliance discussions and the desire of several nations to move away from the US dollar gives an impetus to the project.
It is important to monitor developments at upcoming summits, particularly the one that could take place in Russia. The launch of the BRICS currency in 2024 could be a significant turning point in the evolution of global financial systems.
