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

... eluded attention so far has been the layer of BRICS-related financial institutions that could support the launching of such a currency, including via providing liquidity and market-making. At the center of this network of financial institutions is the ... ... 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 ...