3 Non-BRICS Nations Had Planned to Launch Own Currency, What Happened?
Taking inspiration from the BRICS alliance, three West African countries – Burkina Faso, Mali, and Niger had announced to launch a new currency last year in a bid to break free from the clutches of the US dollar and the Franc, which they inherited from the French colonization. The former French colonies have experienced several coups and are currently governed by military regimes. Also Read: After Pausing BRICS, Saudi Arabia Eyes $100 Billion Deals With the US The three non-BRICS countries held a discussion last year about launching a new currency to abandon the US dollar and the franc. “The currency is a first step toward breaking free from the legacy of colonization,” said General Abdourahmane Tiani, head of Niger’s ruling military junta. They also formed a defense group called the Alliance of Sahel States (AES). Also Read: BRICS: Only 33% of Trade Settled in US Dollars What Happened To the Non-BRICS Nations’ Idea of Launching a New Currency? Source: Reuters No update has...