Barriers to de-Dollarization Within BRICS

... the IMF ” (Biziwick et al., 2015 (p. 318)). Thus, as was the case with the Chiang Mai currency swap initiative, the BRICS NDB’s CRA’s promissory model, limited size (mirroring the limited paid-in capital allocated to BRICS’ New Development Bank),... ... currencies to build the foundation for true independence from IMF and dollar-denominated transactions. Market barriers to BRICS Trade De-Dollarization: In addition to the CRA design flaws, BRICS Trade De-Dollarization is also held back by market barriers. As a ...