BRICS Currency Not in Everyone's Interest: Diplomat
During the policy conference on BRICS+ in New Delhi on Wednesday, diplomats from various countries had a consensus agreeing that a BRICS currency is not in everyone’s interest. Montek Singh Ahluwalia, former Deputy Chairman of the Planning Commission of India, emphasized that it makes no sense to have a shared common currency. “Whoever’s writing papers for the government should have the courage to say it: a common BRICS currency is not in India’s interest, or anyone else’s,” he said. Other experts and policymakers echoed his views, agreeing with his statements. He called the common BRICS currency “nonsense,” and the alliance must first focus on learning from each other to grow. Also Read: BRICS New Members: China & Brazil Back Malaysia’s Full Entry Ahluwalia emphasized that BRICS countries have grown their economy meaningfully, and members need to share and learn from the growth. Instead of launching a BRICS currency, he urged member nations to focus on practical coo...