- Amidst interest in BRICS from Southeast Asian countries, Zambia has become the latest country to ditch the US Dollar, threatening jail time for using foreign currency.
- BRICS has revealed its plans to launch a rival currency this year that could be backed by gold, but experts have lauded Bitcoin as a possible replacement.
BRICS is enjoying great interest worldwide, with developing countries seeking to cut ties with the US dollar and seek an alliance. One African contender has announced that it is ditching the dollar and other foreign currencies. In its efforts to abandon the US, Zambia has threatened that citizens found using the dollar could be jailed for up to ten years.
A draft document from the Bank of Zambia reveals that citizens found using foreign currency for local transactions could be jailed. The bank aims to bolster the country’s local currency amidst…
