Forward from: South Africa Reports
SA says no plans to develop a common Brics currency
South Africa’s government said there are no plans to create a so-called Brics currency, after US President-elect Donald Trump threatened to impose 100% tariffs on members of the economic bloc that back the creation of an alternative to the US dollar.
“Recent misreporting has led to the incorrect narrative that Brics is planning to create a new currency,” South Africa’s Department of International Relations and Cooperation, known as Dirco, said in a statement. “This is not the case. The discussions within Brics focus on trading among member countries using their own national currencies.”
https://www.moneyweb.co.za/news/south-africa/sa-says-no-plans-to-develop-a-common-brics-currency/
South Africa’s government said there are no plans to create a so-called Brics currency, after US President-elect Donald Trump threatened to impose 100% tariffs on members of the economic bloc that back the creation of an alternative to the US dollar.
“Recent misreporting has led to the incorrect narrative that Brics is planning to create a new currency,” South Africa’s Department of International Relations and Cooperation, known as Dirco, said in a statement. “This is not the case. The discussions within Brics focus on trading among member countries using their own national currencies.”
https://www.moneyweb.co.za/news/south-africa/sa-says-no-plans-to-develop-a-common-brics-currency/