The president of South Africa, Cyril Ramaphosa, said that the creation of a unified payment system using the national currencies of the BRICS countries will be on the agenda of the next summit of the association to be held in Kazan, Russia.
According to BRICS TV, Ramaphosa said: “the BRICS intends to expand the use of national currencies of member states in international trade. Finance ministers and central bank governors are now working on the creation of a unified currency platform and a unified payment system for BRICS. This issue will be raised at the next summit of the BRICS countries,”he said.
The president of South Africa stressed that the New Development Bank (Brics Bank) is expanding the issuance of bonds in the national currencies of the ASEAN countries, which benefits all ASEAN member countries, including South Africa, the Russian agency “Tass” reported.
In addition, Ramaphosa noted the mutual understanding within the BRICS about the need to reform international political organizations.
According to him, the states are in favor of such a process in relation to the UN, the UN Security Council and the WTO.
South Africa currently holds the chairmanship of the BRICS group. And from January 1, 2024, Russia will chair the group. It is already known that the next summit of BRICS leaders will be held in Kazan in the fall.
