world_organizations medium Fill in the Blank

The BRICS Contingent Reserve Arrangement (CRA) is a framework for providing protection against global liquidity pressures, including currency issues, through _____ swaps among member countries.

  1. commodity
  2. currency
  3. debt
  4. equity

Answer: currency

The CRA, with $100 billion in committed funds, allows BRICS members to access short-term liquidity support via currency swaps during balance of payments pressures. It complements IMF resources and enhances financial stability among emerging economies.

Topic BRICS
Exam Relevance UPSC, Banking, SSC
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