BRICS Pushes Digital Payments, Not New Currency
BRICS finance ministers met in New Delhi to discuss a digital payment system. The IMF has sought information on a cross-border payments system discussed by BRICS that is aimed at boosting non-dollar transactions. India's central bank proposed linking BRICS countries' official digital currencies to ease cross-border trade and tourism payments.
Why it matters: This matters for the briefing theme of digital payments, as the proposed systems are designed to facilitate non-dollar transactions.