Policy Brief - Institutions for Policy Coordination in the Global South

Strategically, by sharing local currency payment technical knowhow and experience, the BRICS+10 can play an important role in promoting the dedollarization efforts undertaken by many other GS countries—and in the process building alternatives to the dollar-based international payment system, to reduce reliance on the dollar but not necessarily to replace it as the premier currency in the current s. [...] For example, under the chairmanship of Cuba, the group was successful in fighting for its common platform at the COP28 in Dubai in 2023—getting the developed countries to accept responsibility for emitting greenhouse gases causing climate change, and to provide the bulk of finance to deal with the climate mitigation and transition problem, including through contributions to a loss and damage fund. [...] These include, for example, Fundacao Getulio Vargas (FGV) in Brazil, the China Institute of Contemporary International Relations (CICIR) in China, the Observer Research Foundation (ORF) in India, the African Center for the Constructive Resolution of Disputes (ACCORD) in South Africa, the Institute of World Economy and International Relations (IMEMO) in Russia, and the Al-Ahram Center for Political. [...] In the meantime, while addressing the need to enhance the cohesiveness of those institutions, especially in strengthening the effectiveness of the JCC, GS countries, especially the ‘middle powers’, can be more active and astute in building ad-hoc coalitions to advance issues of strategic interest to them, making better use of their think tanks in the process. [...] About the Policy Center for the New South The Policy Center for the New South (PCNS) is a Moroccan think tank aiming to contribute to the improvement of economic and social public policies that challenge Morocco and the rest of Africa as integral parts of the global South.