Not easy to make Brics draft on international payment systems work

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They would have perceived such proposals are easy to conceive and talk about rather than made to work in practice.

Astute businessmen and finance executives would have taken note of four initiatives the leaders of Brics, a grouping of 9 countries, proposed, when they met last week at Kazan, Russia – more trade between the Brics member countries, payments in national currencies of Brics member countries, an electronic platform for settlement of inter-bank transactions and a new currency to facilitate transactions and build up of reserves.

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Category: BusinessFinance

Markets: India

Topics: SWIFT BRICS Indian economy Kazak BS opinion Diplomacy Global GDP Russia Financial syste

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-28 @ 00:34:10 (18 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 110 words

Reading Time: 1 minutes read

Sentences: 5 lines

Sentence Length: 22 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 23270337

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