BRICS: economic potential, New Development Bank and digital currency

The article considers the main directions of BRICS financial innovations, such as strengthening the role of this intercontinental association bank and the prospects for creating their own currency. Some country characteristics and indicators of the financial sector of Latin America are given. On the basis of statistical analysis, the authors concluded that it is relevant to further study the Latin American sector in the world economy as a potential full member and partner of BRICS. The place of Mercosur in regional cooperation and the role for the BRICS countries in achieving sustainable development goals were also noted. Proposals are given for a strategy to ensure leadership in financial platform solutions through the New Development Bank (NDB) of the BRICS and the digital currency of the Central Bank (CBDC). The article also discusses the characteristic features of the integration of financial products into the digital interfaces of the BRICS NDB.

Keywords

Latin America, BRICS, New Development Bank (NDB) of BRICS, development institutions, Mercosur, Brazil, Argentina, inter-regional trade cooperation, financial technologies, sustainable development

Received

08.06.2023

Publication date

03.11.2023

Number of characters

34925

Cite

GOST	Shaker I., Lukashenko I. BRICS: economic potential, New Development Bank and digital currency // Latin America – 2023. – Issue 10 C. 41-61 [Electronic resource]. URL: https://latamerica-journal.ru/S0044748X0027613-3-1 (circulation date: 19.05.2024). DOI: 10.31857/S0044748X0027613-3
MLA	Shaker, Irina, Lukashenko, Inna "BRICS: economic potential, New Development Bank and digital currency." Latin America 10 (2023):41-61. DOI: 10.31857/S0044748X0027613-3
APA	Shaker I., Lukashenko I. (2023). BRICS: economic potential, New Development Bank and digital currency. Latin America (10), pp.41-61 DOI: 10.31857/S0044748X0027613-3

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