The Banking Systems of BRICS Countries and their Impact on Global Economic Stability
Brînză Alexandrina
ABSTRACT
The intergovernmental organization BRICS is made up of the most important economic powers globally, and its main goal is to maintain economic, military, and political cooperation. The economic potential of the BRICS countries can be observed from the analysis of GDP. The constant increase in GDP demonstrates the correct and efficient implementation of financial and monetary policies. Financial crises have demonstrated that BRICS countries have discussed and planned ways to further strengthen their economic cooperation to overcome the negative effects of the crisis, thereby promoting reform in the international financial system. The national banks and the Development Bank have managed to boost their internal economy and to intensify global trade.
