Another major financial institution is ditching the US Dollar in what comes as yet another major blow to Washington. According to recent reports, the New Development Bank (NDB) of BRICS nations will offer loans in the local currencies of member states Continue…
BRICS is an informal group of states comprising the Federative Republic of Brazil, the Russian Federation, the Republic of India, the People’s Republic of China and the Republic of South Africa. The growing economic might of BRICS countries, their significance as one of the main driving forces of global economic development, their substantial population and abundant natural resources form the foundation of their influence on the international scene.