De-dollarization and deepening money market: The blueprint ۲۰۲۵ case under membership of BRICS

The Indonesian Money Market Development Blueprint ۲۰۲۵ (BPPU ۲۰۲۵) aims to enhance monetary efficiency and stimulate economic growth. This study examines how BRICS cooperation influences Indonesia’s de-dollarization strategy and strengthens its domestic money market, while analyzing macroeconomic impacts. Using quantitative and descriptive inferential methods, it evaluates secondary data from ۱۱ BRICS members, Brazil, Russia, India, China, South Africa, Indonesia, Saudi Arabia, Egypt, Ethiopia, Iran, and the UAE, covering ۲۰۲۱–۲۰۲۴. Indicators include fiscal income, public debt, inflation, interest rates, foreign reserves, exchange rates, FDI, and trade flows, sourced from institutions such as the IMF, World Bank, and BRICS central banks. Statistical tools, descriptive analysis, Pearson correlation, linear regression, and ANOVA, reveal strong correlations among BRICS economies’ financial patterns. Results show fiscal revenue manages inflation more effectively than debt, inflation correlates negatively with reserves, and interest rates closely track inflation. The research concludes that BRICS collaboration can enhance monetary autonomy, stabilize currencies, and reduce dependence on the U.S. dollar, particularly benefiting developing nations like Indonesia.

کلیدواژه ها:

De-Dollarization ، BRICS ، Money market blueprint ۲۰۲۵ ، Local currency ، Monetary Policy