Brazil Signing Currency Swap Agreements with All BRICS

 

Brazil and China have signed a Currency Swap Agreement in order to pay for trade transactions in local currencies (the real and the yuan or renminbi).

 

Furthermore, Brazil revealed that similar currency swap agreements were under study with all the members of the BRICS group of nations (Brazil, Russia, India, China and South Africa).

 

On the other side, China have signed similar agreements with Australia, Hong Kong and Japan.

 

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New OECD Members

12 May 2010, Brussels

 

The Organisation for Economic Cooperation and Development (OECD) has agreed to invite Estonia, Israel and Slovenia to become members of the Organisation, its membership will grow to 34 countries.

 

Before the admission, the three countries were reviewed by several commissions with respect to their compliance with OECD standards and benchmarks.

 

The last country to became member was Chile earlier this year and membership talks with Russia are in progress. In the same time, the OECD is strengthening its growing partnership with major emerging economies, including Brazil, China, India, Indonesia and South Africa.