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Currencies, Old and New, Set to Top Agenda at Next Week’s BRICS Summit in Johannesburg

The idea of creating a brand new currency under the auspices of the BRICS countries is “ridiculous,” according to the former Goldman Sachs economist who coined the acronym for the five countries.

Jim O’Neil echoed the sentiments of a number of prominent Western economists on Tuesday when he told the Financial Times that a new BRICS currency isn’t feasible.

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