BY EDWARD THEOPHILUS

After the Briton-Wood agreement international financial system has created many issues for many countries, developing countries have been major victims, because small and developing countries got caught into in a trap of developed countries where there have hard currencies, and BRICS wants to introduce a new international currency unit despite the existing power of the US dollar. Many major countries have abandoned the US Dollar in large payments as a settling currency, and the Chinese Yuan, Indian Rupee, Euro, Saudi Rials, the Brazil Currency Unit, Russian Currency Unit and the US Dollar are used as key international currencies for international settlements. When creating a credible currency unit for international settlements, the entire world needs to work together and divide into seven zones and every country in the zones is included in the way given below and international settlements within the zone should be affected by using the currency unit related to the zone.

Zone A–The USA, Canada, Iceland, Greenland, Ireland and the United Kingdom- Currency Unit is the US Dollar

Zone B–Portugal, Spain, France, Germany, Norway, Sweden, Finland, Poland, Austria and Sweden, Hungary, Italy, Greece, Bulgaria–Currency Unit is Euro

Zone C-All African countries, Madagascar, Jordan, Syria, Iraq, Israel, Saudi Arabia, Yemen, Oman, Iran, and Iraq-Currency Unit is Saudi Rial

Zone D-India, Pakistan, Sri Lanka, Bangladesh, Maldives, Australia, New Zealand, Fiji, PNG and All South Pacific Islands–Currency Unit is Indian Rupee

Zone F- Brazil, Mexico, and All Islands in the Atlantic Ocean, Venezuela, Colombia, Paraguay, Chile, Argentina and Falkland–Currency Unit is–Brazilian Dollar 

Zone G–China, Japan, North Korea, South Korea, Taiwan, Mongolia, Kazakhstan Malaysia, Indonesia Kirgizstan, Brunei, Singapore, Myanmar, Vietnam, Thailand, Bhutan, Laos, Currency Unit–Chinese Yuan  

Countries in a zone included without political division or differences, this categorization is purely for making a reasonable international financial system disregarding any difference. The world needs a reasonable international financial system with a maximum 5% fluctuation, possibly for administration cost. This system will give justice to all countries of the globe. The current international financial system created after the Briton-Wood Agreement was disliked to consider giving justice to all humans around the globe and many countries have pushed to difficulties and a negative aspect of the current system is encouraging speculation and making billionaires.

The operation of the current international financial system has created injustice for the world and it should be corrected by the new system.  

This proposal works against currency speculation and becoming billionaire out of poor people.

This is the time to consider justice for the world.