3 Non-BRICS Nations Abandoned Plans to Launch Sovereign Currencies—Here’s Why

Geopolitical ambitions meet cold, hard reality. Three countries outside the BRICS alliance quietly shelved plans to issue national digital currencies—despite earlier grandstanding about ’monetary sovereignty.’

What went wrong? Bureaucratic infighting, tech stack failures, and the brutal math of FX reserves. Turns out, printing money is easier when you’re the Fed.

One finance minister’s leaked memo said it best: ’We can’t even keep the lights on—how are we supposed to code a CBDC?’ Ouch.

What Happened To the Non-BRICS Nations’ Idea of Launching a New Currency?

No update has been provided by the West African countries Burkina Faso, Mali, and Niger about the BRICS-style new currency. It is doubtful that the three regimes are even working closely on the formation of the currency. Launching a new currency in the global market is easier said than done, as the requirements are immense.

Apart from meeting the criteria, gaining trust in the new currency is a herculean task. Their own local currencies are under water and unable to save themselves from drowning. Therefore, the talks about launching a new currency can mostly be seen as rhetoric and not grounded in reality. Even BRICS, which consists of bigger economies and larger financial power, is unable to bring its new currency to life.

The one thing about leaders in developing countries is that they’re all talk and no show. Statements are given all across the board, with little to no work done on the ground. Leaders rarely follow up with their statements and are mostly forgotten over time. Similar to BRICS, even Burkina Faso, Mali, and Niger are ruled by leaders who talk big but show no work.