Promoting BRICS Economic Integration via Central Bank Digital Currencies

2022-04-25 / События

On April 11, the international conference "Promoting BRICS Economic Integration via Central Bank Digital Currencies" was hosted by the National Institute for the Humanities and Social Sciences and the South African BRICS Think Tank.

The COVID-19 pandemic and consequent economic crisis have altered global trade. One of the profound changes has been the shift towards digital payments. With this shift, Central Bank Digital Currencies (CBDCs) are rapidly gaining ground, with all BRICS nations in the process of researching or adopting such options. The CBDC offers great opportunities to promote financial inclusion while also disrupting the traditional banking architecture in these countries. The new financial infrastructure could also promote cross-border financial services but is dependent on countries recognising the need to promote integration and currency interoperability. There is a need for focus, planning and coordinated action by Central Banks, financial institutions of BRICS countries that require the involvement of international standard institutions. As the BRICS develops these currencies in test environments, it is important to collate the research that addresses interoperability and international exchange issues. The BRICS will need to investigate the potential of using multiple CBDC bridging technologies and other alternatives to promote international trade and foreign investment from the outset before the currencies are formally adopted. Making changes to these systems at a later stage will prove to be more expensive. To enable international trade through the CBDC, one must explore the broad dimensions of system interoperability and the arrangements that the Central Banks must consider to implement such structures.

This conference explored these ideas, developing policy recommendations for the BRICS.

Prof. Irina YARYGINA, Scientific Director, Russian National Committee on BRICS Research represented Russia. Expert presented on the topic "BRICS digital currency: problems and challenges" (PPT).

Press office
National Committee on BRICS Research

События

Резолюция стратегической сессии «О реализации мегапроекта «Экологическая платформа БРИКС+», проведенной в рамках VII Международной научно-практической конференции “Большая Евразия: национальные и цивилизационные аспекты развития и сотрудничества” и VIII Научно-практической конференции – Форума аналитиков России.

В преддверии проведения ряда совместных мероприятий сотрудники Управления международных связей РЦНИ провели встречу с представителями Национального комитета по исследованию БРИКС.

18–20 сентября 2024 года в г. Петрозаводске (Республика Карелия, Российская Федерация) состоялась вторая международная научно-практическая конференция «Региональное сотрудничество БРИКС: современные проблемы экологии и природопользования», организованная Карельским научным центром Российской академии наук при поддержке российского Национального комитета по исследованию БРИКС и консорциума «РИТМ углерода».