20. Juli 2024

BRICS Nations Should Consider Digital Currency to Withstand Economic Shocks

• Former Russian President Dmitry Medvedev predicts that fiat currencies of BRICS member states will have no alternative in the future.
• Medvedev believes that Europe will return to its system of financial patchwork with national currencies, such as the mark, lira, and French franc.
• Medvedev suggests that BRICS nations should think about their digital forms and a digital currency issued by the group as a whole.

Dmitry Medvedev, the former President of Russia, has recently been quoted as saying that the fiat currencies of BRICS member states will have no alternative in the future. This prediction is based on the current state of Europe’s economy and its weakening euro. Medvedev believes that in the event of financial shocks in Europe, it will return to its system of financial patchwork with national currencies, such as the mark, lira, and French franc. Therefore, the euro will no longer be a universal means of payment.

In response to this possible outcome, Medvedev suggests that BRICS nations should think about their digital forms and a digital currency issued by the group as a whole. He believes that this could be a viable solution for the economies of the BRICS countries and could help them to better withstand any economic shocks. He also noted that the leaders of the organization are discussing the idea of a digital currency for the bloc.

In conclusion, Medvedev’s views on the future of the BRICS economies are optimistic. He believes that the countries of the bloc should be prepared for any economic shocks and that they should consider the possibility of developing digital forms and a digital currency issued by the group as a whole. This could help to protect the economies of the BRICS nations and ensure their stability in the future.