₦airaland Forum

Entprys:
We are following this same footstep in Nigeria soon.

Like Tinubu(action man) like Putin.

coputa:
Will they accept Nigeria into BRICS

coputa:
Will they accept Nigeria into BRICS

Entprys:
We are following this same footstep in Nigeria soon.

Like Tinubu(action man) like Putin.

coputa:
The BRICS alliance is looking to work on an alternative currency to take on the US dollar. The bloc is working out several options to end dependency on the US dollar and promote local currencies for global trade. The alliance is also convincing other developing countries to stop relying on the US dollar and promote local currencies.

Russia’s Minister of Finance Anton Siluanov said that BRICS members are looking at the possibility of a common unit of account and currency, similar to the Euro. Siluanov said that the currency could work as an alternative to the US dollar, and can be used to denote the cost of some commodities.

“This can be a unit of account for the BRICS member countries. Not a single currency like in the EU (Euro) but an alternative to the dollar. In which the cost of commodity deliveries can be denoted as well as benchmarks for some goods. So as not to depend on the single currency or an issuing center that issues banknotes in a no-one-knows-how manner,” he said.

The BRICS currency following the Euro’s path is currently only talks and no concrete decision has been made. The bloc of nations will meet at the next summit in October this year and have a common consensus. The upcoming 16th summit will take the alliance in a new direction with possible groundbreaking policies.

The policies could hamper the West and the US dollar, as they might give prominence to their currency. If the US dollar is used less on the global stage, America’s economy will be the hardest hit this decade.


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cutieme:
Hi bro, good day,pls I just saw in your other post that you stayed and worked in Gambia for two years,pls can you tell me more about it,pls,I sent you msg here cos I was banned for no just reasons on travelled section so couldn't send you there

infofta:
Dead on arrival
All the members except China are all exporters of Natural resources to Europe. They depend on Europe and US for their revenue.
Will Russia buy Iranian oil

swagana:
Will they stop selling or exporting their goods to Europe because of their economic union?
Did Europe stop doing business with the rest of world when they launched Euro currency?

coputa:
European countries were even using the dollar than euro in doing business with the rest of the world

swagana:
Nations will trade with BRICS+ countries with their adopted currency no issues.

coputa:
That's is when they are members of BRICS.I don't see any west African country being accepted into BRICS

swagana:
Read again,I said BRICS+ nations I made mention of non member states.

coputa:
Their members now are insignificantly few