The Latindadd Network and the research group “Political Economy of South-South Relations” from the BRICS Policy Center organized the webinar: “The Monetary System and Multilateralism in Dispute: The Strategic Role of the BRICS.”
The event was moderated by Patricia Miranda from the Latindadd Network, with comments by Ana Saggioro Garcia, coordinator of the research group “The Political Economy of South-South Relations” at the BRICS Policy Center. The webinar featured insights from Jayati Ghosh from the University of Massachusetts at Amherst, India, as well as Keiti Gomes and Walter Desiderá from the BRICS Think Tanks Council of IPEA.
In her remarks, Professor Ana Garcia reflected on the BRICS’ actions regarding de-dollarization, as well as the challenges and opportunities for the bloc. She spoke about the need to move beyond announcements and grand declarations toward the implementation of concrete measures. Additionally, she highlighted the use of local currencies without harming the countries’ own economies, giving the example of China — an economy with capital controls and one of the most closed financial markets. In this regard, the use of the NDB — the BRICS Bank — as a mobilizer of local markets and a provider of loans has proven to be an opportunity. Finally, she pointed out that the Brazilian government chose to focus the debate on trade facilitation, which has proven to be a more conciliatory approach that creates fewer tensions in a challenging international context.
The full webinar is available on the BRICS Policy Center’s YouTube channel: