- Sergey Glazyev, Russia’s former Presidential advisor, announces that the BRICS currency is nearing completion, requiring only final adjustments and political approval.
- With three out of five BRICS nations already expressing support, the new currency could launch as soon as the 16th BRICS summit in 2024.
In a momentous update following the 15th BRICS summit, Sergey Glazyev, Russia’s former advisor to the President and a noted economist-turned-politician, has revealed substantial progress in the BRICS bloc’s endeavor to introduce a new global currency. This announcement follows the historic expansion of the BRICS alliance, which recently welcomed six new countries, marking a significant period of growth for the group.
Nearing the Finish Line: BRICS Currency Almost Ready
Glazyev’s statements shed light on the serious intentions behind the BRICS initiative, underscoring the bloc’s commitment to challenging the US dollar’s dominance. According to Glazyev, the new BRICS currency is on the brink of realization, awaiting only final adjustments and crucial political consent before it can be officially launched.
“The BRICS currency is almost ready. What we need now is the political consent of the BRICS countries, three of which have already expressed their support through their heads of state,”
Glazyev asserted. This significant level of backing implies that the currency’s debut could potentially occur during the 16th BRICS summit in 2024, provided the remaining two countries align with this vision.
Glazyev’s confirmation that the currency is already in advanced stages of development marks a pivotal moment in the BRICS journey towards financial autonomy. The initiative signifies a collective effort to reduce dependency on the US dollar, aiming to foster greater economic stability and cooperation among the participating nations.
The Road Ahead: Potential Impact and Global Implications
With three BRICS nations officially on board, the fate of the new currency now hinges on the remaining two members’ decisions. Should they extend their support, the BRICS currency could usher in a new era in global finance, directly challenging the US dollar’s hegemony and potentially altering the existing economic order.
This development, poised to redefine the global financial landscape, highlights the BRICS bloc’s determination to establish a more balanced and inclusive economic system. As the world keenly observes these unfolding events, the potential launch of the BRICS currency stands as a testament to the group’s resilience and strategic foresight in navigating the complex terrain of international finance.