The Kremlin doubted the possibility of creating a common BRICS currency in the near future
[ad_1]
The creation of a common currency within the framework of the BRICS (Brazil, Russia, India, China and South Africa) is hardly possible in the near future, however, states are already actively using national currencies in settlements. This was stated by the press secretary of the President of the Russian Federation Dmitry Peskov.
“The process of de-dollarization of the world economy is inexorably underway. Many countries gravitate towards the trajectory of using national currencies in mutual settlements. Also, of course, expert discussions are underway about the possibility, expediency and feasibility of plans to introduce a national currency, some kind of integration processes. This is still a discussion process, it is clear that it will be extended in time. This is unlikely to be feasible in the short term,” he said.
Peskov noted that the use of national currencies has already become “a reality that is growing on a global scale.” According to him, this practice is resorted to not only by countries that have faced sanctions, but also by states that are not affected by restrictions, but which “understand the benefits of this regime.”
Despite the low probability of the implementation of this initiative, this does not mean that it does not need to be discussed, Peskov noted. He stressed that the discussion of this issue would continue.
BRICS was founded in June 2006 as part of the St. Petersburg Economic Forum. Initially, the association included Brazil, Russia, India and China. In 2020, South Africa joined it. In March, the Russian Foreign Ministry announced the desire of 16 countries to join the BRICS. The group’s 15th summit will be held in South Africa from 22 to 24 August.
[ad_2]
Source link
