DMPQ- The BRICS Contingent Reserve Arrangement (CRA)

The BRICS Contingent Reserve Arrangement (CRA) is a framework for providing protection against global liquidity pressures. This includes currency issues where members’ national currencies are being adversely affected by global financial pressures. It is found that emerging economies that experienced rapid economic liberalization went through increased economic volatility, bringing uncertain macroeconomic environment. The CRA is generally seen as a competitor to the International Monetary Fund (IMF) and along with the New Development Bank is viewed as an example of increasing South-South cooperation. It was established in 2015 by the BRICS countries. The legal basis is formed by the Treaty for the Establishment of a BRICS Contingent Reserve Arrangement, signed at Fortaleza, Brazil on 15 July 2014. With its inaugural meetings of the BRICS CRA Governing Council and Standing Committee, held on September 4, 2015, in Ankara, Turkey it entered into force upon ratification by all BRICS states, announced at the 7th BRICS summit in July 2015.

Final Destination for Punjab PSC Notes and Tests, Exclusive coverage of PPSC Prelims and Mains Syllabus, Dedicated Staff and guidence for Punjab PSC PPSC  Notes brings Prelims and Mains programs for PPSC  Prelims and PPSC  Mains Exam preparation. Various Programs initiated by PPSC  Notes are as follows:- For any doubt, Just leave us a Chat or Fill us a querry––