BRICS in Global Financial System: The Need to Level the Playing Field

The primary objective of BRICS could be to enable direct exchange of national currencies for external payments The nations of BRICS have repeatedly called for the enhancement of their role and status within the current global financial system, which was long overdue. In this vein, the declaration of the 11 th Brazil Summit held in November 2019 expressed disappointment of BRICS leaders with the results of the 15 th General Review of IMF quotas, which failed to ramp ...