Auto Added by WPeMatico
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…
The BRICS economic bloc is progressing towards a digital payment platform, Russia’s Federation Council Speaker Valentina Matviyenko has revealed. The initiative, named BRICS Bridge, aims to establish an independent financial…
Iran plans to support Russia’s initiatives on creating a BRICS single currency and expanding national currency payments within the bloc, according to Iran’s Ambassador to Moscow, Kazem Jalali. The BRICS…
El Salvador has proposed using cryptocurrency as an alternative payment method for trade with Russia. The Central American nation has reportedly expressed interest in joining the BRICS bloc and may…
Ethiopia’s birr plunged 30% against the dollar after the central bank floated the currency as part of reforms aimed at correcting foreign exchange market distortions. The bank also eliminated foreign…
Alexander Babakov, Deputy Chairman of the Russian State Duma, highlighted the need to create a BRICS equivalent to the SWIFT messaging system, which routes payments alongside the current banking infrastructure.…
The World Bank Executive Director for Russia forecasts that BRICS nations will soon dominate the World Bank and the International Monetary Fund (IMF), attributing this shift to inevitable macroeconomic and…
The BRICS economic bloc is considering Iran’s proposal to link all member nations’ payment systems, according to Russian Deputy Foreign Minister Andrey Rudenko. The proposal aims to enhance BRICS countries’…
India supports the idea of an independent BRICS payments system but stresses the importance of a cautious and systematic approach. According to Ash Narain Roy, Director of India’s Institute of…
Valentina Matvienko, Chairman of the Russian Federation Council, talked about the role of national digital currencies, also known as CBDCs, in increasing the use of national currencies in BRICS trade.…