- The BRICS group is moving forward with plans for a joint currency, targeting a 2026 launch date.
- Economist Jim O’Neill, who coined “BRIC,” has expressed doubt about the project due to internal divisions.
- The 2025 BRICS Summit in Brazil showed progress in building digital infrastructure for the currency.
- BRICS now represents about 46% of the world’s population and 37% of global GDP.
- Technical preparations are advancing, but cooperation between major economies like China and India remains a challenge.
The BRICS alliance is working on creating a joint currency, with an announced goal to launch it in 2026. The group—comprising Brazil, Russia, India, China, and South Africa—continues these efforts despite differences among its members. The issue of when the BRICS currency might debut is driving ongoing global financial discussions.
The alliance expanded to include ten member nations and now accounts for around 46% of the world’s population and 37% of global economic output. At the July 2025 BRICS Summit in Brazil, members made progress in developing digital infrastructure for the proposed currency, though no specific release date was shared.
Jim O’Neill, the economist who introduced the “BRIC” term in 2001, has questioned the likelihood of success for the currency plan. O’Neill said, “I will treat the bricks group seriously when I see signs that the two countries that really matter China and India actually really trying to agree on things rather than effectively trying to confront each other all the time.” He pointed out that the economic influence of BRICS may not translate into effective action without agreement between key members, particularly China and India.
According to O’Neill, “The day that China and India really managed to get over the long historic battles and decided to really cooperate on some big issues that would benefit each of them especially bilateral trade” would represent a turning point for the group’s ambitions.
Despite skepticism, the development of digital settlement systems and interconnected payment networks continues. Technical capabilities are being positioned in preparation for any unified currency launch, as described by coverage from Defence Page. However, experts believe that internal disagreements remain a potential barrier to the timeline.
The momentum for a BRICS currency continues to build as the bloc expands. Still, whether the planned 2026 launch can happen depends on resolving political and economic differences among major members.
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