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

... as well as the Contingency Reserve Arrangement (BRICS CRA) – it has the capability to design and implement coordinated de-dollarization strategies that involve the greater use of national currencies and R5 over the longer term. Then there are the national ... ... 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 ...