The emerging economies of the BRICS group will play a key role in shaping the future of the world and the key focus of its agenda in the near future is the de-dollarization, Iran’s Ambassador to Moscow Kazem Jalali says.
He pointed out that “by 2030, the US dollar’s share in central bank reserves will decrease from 58% to approximately 35-40%.”
BRICS’s growing influence, per Jalali, is stemming from the slow and ineffective current international power structure when it comes to addressing global issues and, according to projections for 2030 he cited, “BRICS countries will make up 48% of the world’s Gross Domestic Product (GDP).”
“Moreover,” he said, “the New Development Bank (NDB) of BRICS is on course to become an alternative to the World Bank and Western development mechanisms.”
