Detaching bilateral trade from Western currencies could strengthen intra-member cooperation, according to Redge Nkosi Establishing a BRICS common currency is an ambitious long-term task, although a joint payment system for intra-member trade could easily be launched in the near term, according to Redge Nkosi, executive director and head of research at South African company Firstsource…

The EU’s economic engine will continue to stall despite declining inflation, the German central bank warns German economic output stagnated in the second quarter of 2023 after contracting in the two previous quarters, and growth is expected to remain muted in the near term, the Bundesbank reported on Monday.

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