Inclusive economic development principles for integrating central bank digital currencies in BRICS

Abstract

The world, post-pandemic restrictions, faces multiple interconnected and complex social and economic crises. However, the world's social inequalities didn't begin in 2020 with the pandemic. Instead, the pandemic has exacerbated various existent socio-economic and political inequalities. Many nations were still compromised from the 2008 Global Financial Crisis and the financial system's collapse prior to the pandemic. However, with the introduction of a global pandemic, we've seen the emergence of multiple crises linked to reduced production, failing supply chains and repeating health emergencies. Like much of the developing world, South Africa contends with an acceleration of poverty, unemployment, food shortages, and multiple health challenges.