Emmerson Njanjamangezi, Group Features Editor 
ANALYSTS say the proposed BRICS single currency would be a solution to some of Zimbabwe’s economic challenges, which have lately been headlined by currency volatility.
It comes as the foreign affairs ministry has said the country is willing to join the grouping’s unified currency proposal among other trade pacts.
BRICS is an acronym that started as BRIC in 2001, coined by Jim O’Neill — a Goldman Sachs economist — for Brazil, China, India, and Russia. Later in 2010, South Africa was added to become BRICS.
Economic analysts who spoke to The Financial Gazette this week coalesced on the point that the BRICS unit would benefit Zimbabwe.
Former Reserve Bank of Zimbabwe (RBZ) Monetary Policy Committee member, Eddie Cross, said the Zimbabwean situation presents no other option, but to join BRICS.
“Zimbabwe remains the most isolated African State and joining BRICS would be a step forward. But, I think the prospects of doing so are slim.
“Using the Yuan would have little impact on our currency crisis, but might help us with international payments because of the restrictions involved in using the Swift system.”
Eddie Cross Cross is a former member of Parliament and a member of the RBZ’s Monetary Policy Committee.
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