African representative: BRICS needs to develop its own currency
Percy Morapedi Koji, the Co-founder and Vice President of the African Economic Leadership Council, said that the BRICS countries need to develop their own currency for trading within the bloc, RIA Novosti reports
Percy Morapedi Koji said, “We need a new currency that will be beneficial to our own conditions. It's time to do things the way we want it. We need to be able to choose who we want to trade with.”
According to the politician, the new currency will help strengthen trade ties within BRICS. He said that the organisation will surpass G20 by 2030.
It is also reported that, at the end of August, South African Finance Minister Enoch Godongwana said that the creation of a single BRICS currency had not been discussed by the participating finance ministers at the Johannesburg summit.
