The rationale for and potential role of the BRICS Contingent Reserve Arrangement

  title={The rationale for and potential role of the BRICS Contingent Reserve Arrangement},
  author={Mayamiko Biziwick and Nicolette Cattaneo and David Ross Fryer},
  journal={South African Journal of International Affairs},
  pages={307 - 324}
This article examines the potential role the BRICS Contingent Reserve Arrangement (CRA) could play in stabilising countries experiencing a high degree of economic volatility. The CRA is a US$100 billion pooled reserve fund that has its origins in the fifth BRICS Summit hosted in Durban. The CRA was set up to help emerging nations deal with liquidity shortages and to strengthen financial systems during crisis. The article examines the debate on the effect of capital market liberalisation and… Expand
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