WASHINGTON, 1 sec BRICS can create viable alternatives to the dollar, and the American currency itself will cease to be dominant in the world, said American economist Jeffrey Sachs, professor at Columbia University.
« «BRICS can create viable alternatives to the dollar. Therefore, indeed, the dollar will be overthrown as the predominant and dominant global currency,» he said. in world volumes.
«BRICS will accelerate the transition to a multi-currency system. The dollar will still play its role, but a much smaller one among the many currencies,» he said.
BRICS unites Brazil, Russia, India, China and South Africa. Last week, the BRICS summit was held in Johannesburg, following which the leaders decided to invite Argentina, Egypt, Iran, Ethiopia, the United Arab Emirates and Saudi Arabia to become full members of the alliance. Formally, the group will expand on January 1, 2024.