Why a BRICS currency is the way forward for the Global South

... national and regional development banks/funds in which BRICS countries are members such as the Eurasian Development Bank, FOCEM, SDF and others. There are also the Regional Financing Arrangements (RFAs) where BRICS+ countries are members – EFSD, FLAR, CMIM (Chiang Mai Initiative Multilateralization) – according to the estimates of the IMF the resources of the regional financing arrangements globally exceed those of the IMF itself 1 . Finally, and perhaps most significantly the BRICS+ countries could ...