CACS Occasional Paper no 3

Dedollarisation strategies: Transforming currency dynamics in BRICS+ Bloc
Lebo Mosebua and Goitseone Maswabi
The global economic landscape has witnessed a significant shift in recent years, with emerging markets and developing nations playing an increasingly pivotal role in international trade and finance. At the forefront of this transformation stands the BRICS+ bloc, a coalition of influential
countries united by their aspirations for greater economic autonomy and resilience on the global stage. At the heart of their efforts lies the notion of “dedollarisation,” a strategic move to reduce reliance on the U.S. dollar in international transactions. This shift in currency dynamics within BRICS+ not only reflects their growing economic clout, but also holds the potential to reshape the foundations of the global financial system. Herein, we delve into the strategies and implications of dedollarisation within the BRICS+ bloc, exploring how these countries are working together to redefine their role in the international financial arena.