Auto Added by WPeMatico

BRICS Payment Platforms Gain Momentum as US Dollar Alternatives, Says Russian Official

BRICS’ new payment platforms, which offer alternatives to the U.S. dollar and euro, are attracting global attention, according to Russian Foreign Minister Sergey Lavrov. These systems enable countries to conduct…

Continue ReadingBRICS Payment Platforms Gain Momentum as US Dollar Alternatives, Says Russian Official

BRICS Gains Global Appeal as 34 Countries Show Interest, Putin Reveals

Russian President Vladimir Putin revealed that 34 countries have shown interest in joining BRICS activities, highlighting the global appeal of the group. He detailed Russia’s role in facilitating the integration…

Continue ReadingBRICS Gains Global Appeal as 34 Countries Show Interest, Putin Reveals

China and South Africa Boost BRICS Ties: Key Outcomes from Xi’s Meeting With Ramaphosa

China and South Africa committed to deepening cooperation within the BRICS framework during South African President Cyril Ramaphosa’s second state visit to China, where he met with Chinese President Xi…

Continue ReadingChina and South Africa Boost BRICS Ties: Key Outcomes from Xi’s Meeting With Ramaphosa

Turkey Seeks to Join BRICS to Strengthen Global Influence

Turkey has reportedly formally requested to join the BRICS economic bloc to expand its global influence and establish new alliances beyond its traditional Western partners. Turkish President Recep Tayyip Erdogan’s…

Continue ReadingTurkey Seeks to Join BRICS to Strengthen Global Influence

Payments in National Currencies Surge to 92% Among SCO Members

Payments in national currencies among Shanghai Cooperation Organization (SCO) members have reportedly increased from 40% in 2022 to 92%, signaling a move away from reliance on the U.S. dollar. Similar…

Continue ReadingPayments in National Currencies Surge to 92% Among SCO Members

Former Russian PM: BRICS Not Ready for Common Currency

Sergey Stepashin, Russia’s former prime minister, explained that it’s premature to discuss a common BRICS currency, emphasizing the importance of increasing payments in national currencies instead. He cited challenges in…

Continue ReadingFormer Russian PM: BRICS Not Ready for Common Currency

China and Russia Push for Increased Local Currency Use in Trade, Deepen BRICS Cooperation

China and Russia solidified their cooperation in currency, finance, and within the BRICS framework following a meeting between Chinese Premier Li Qiang and Russian Prime Minister Mikhail Mishustin. They committed…

Continue ReadingChina and Russia Push for Increased Local Currency Use in Trade, Deepen BRICS Cooperation

BRICS Countries Deem US Dollar Less Important in Global Trade, Says Indian Expert

The vice chairman of the BRICS Chamber of Commerce and Industry, Sameep Shastri, has highlighted the economic bloc’s shift away from reliance on the U.S. dollar, opting instead to trade…

Continue ReadingBRICS Countries Deem US Dollar Less Important in Global Trade, Says Indian Expert

De-Dollarization Faltering in Africa Because Citizens Lack Confidence in Their National Currencies

Despite clearly articulating reasons for de-dollarization in the Global South, African leaders will struggle to convince residents to embrace national currencies without changing economic management practices. People often lose confidence…

Continue ReadingDe-Dollarization Faltering in Africa Because Citizens Lack Confidence in Their National Currencies