CRA: Contingent Reserve Arrangement: The Contingent Reserve Arrangement (CRA)
of BRICS nations viz. Brazil, Russia, India, China and South Africa wash
declared operational
in October 2016. It was announced by Union Finance
Minister Arun Jaitley who had chaired the Governing Council meeting of the BRICS' CRA in New York,
United States. CRA was established in 2015 during 7th BRICS summit in July 2015. It is a framework that aims at
providing support through additional liquidity and other means to BRICS countries at a time of economic crisis. It
will be providing support to BRICS
countries through liquidity and precautionary
instruments in response to actual or potential short-term balance of
payments pressures.
Subsribe now jee main online test
Subsribe now jee main online test
No comments:
Post a Comment