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BRICS political currency fund

Posted on 15 November 2012

The BRICS countries are due to establish a joint currency fund. A formal decision has been made because this reserve is necessary in case of another economic crisis.
Now Brazil, Russia, India, China and South Africa are discussing concrete parameters and conditions of accumulating currency reserves. The size of the fund has also been determined. It is to be $240bln. However, the establishment of the mechanism of mutual lending has an important political aspect as well, say experts……………………………………….Full Article: Source


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