BRICS nations on 5 September, 2013 gave further impetus to the proposed formation of a $100-billion Currency Reserve Fund (CRF) by announcing individual contributions to the fund...!!!
Agreed Individual Contribution....!!
# China $41 billion
# Brazil...India and Russia $18 billion each
# South Africa – $5 billion
The fund would eventually allow the five nations to access the fund to deal with short-term volatility in their capital flows, which might negatively impact their currencies...!!
The idea of such a fund found traction in the last BRICS summit in Durban, South Africa, earlier this year..!!
Misra Raahul
(Bloggist and Writer)
No comments:
Post a Comment