BRICS bank aiming to expand trade in national currencies – report ...News

Sanctions targeting founding member Russia make the step necessary, Reuters quotes South Africa’s Finance Ministry as saying The New Development Bank (NDB) set up by the BRICS group of major emerging countries needs to increase local currency fundraising and lending amid Western sanctions against founding shareholder Russia, the South African Finance Ministry has told Reuters. The statement comes as South Africa prepares to host a summit of BRICS leaders in Johannesburg later this month. According to Finance Minister Enoch Godongwana, an increase in local currency use among NDB members will be on the agenda, with

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