Article - Problems of Modern Economics

Nesterov I. O.
Associate Professor, Chair of the Global Economics, St. Petersburg State University, PhD (Economics)
Kalinin N. V.
PhD student, St. Petersburg State University

A single unit of account for the BRICS countries: An unrealistic dream, or a new substitute
for reserve currencies? (Russia, St. Petersburg)

In the modern system of cross-border settlements, the dominance of traditional reserve currencies remains, with their main competitive advantages such as conditional stability and the “network effect” of their mass use. At the same time, in the last decade there has been a steady trend towards expanding the use of regional currencies, accompanied by the active introduction of heterodox solutions, including those based on modern digital technologies. The article discusses the possibilities of a single unit of account of the BRICS countries.

Key words: BRICS, UNT, BRICS Common Currency, Special Drawing Rights, BRICS Pay

Pages: 75 - 78

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