https://en.sputniknews.africa/20231006/brics-needs-transactions-in-national-currencies-not-common-currency-putin-notes-1062582693.html
BRICS Needs Transactions in National Currencies, Not Common: Putin
BRICS Needs Transactions in National Currencies, Not Common: Putin
Sputnik Africa
MOSCOW (Sputnik) - BRICS needs a well-functioning national currency settlement system and financial logistics, not one common currency, Russian President... 06.10.2023, Sputnik Africa
2023-10-06T10:07+0200
2023-10-06T10:07+0200
2023-10-10T13:16+0200
vladimir putin
russia
brics
de-dollarization
development
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valdai discussion club
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"As for BRICS, we need not to create a common currency, but to establish a system of settlements, create financial logistics in order to ensure settlement between our states in national currencies, taking into account the situation with our national currencies and the macroeconomic performance of our economies as well as currency rate differences and processes of inflation. It is a tough but manageable situation. We need to work on this," Putin said at the Valdai Discussion Club. The issue of creating one common BRICS currency has been discussed with experts and is theoretically possible, the Russian president added.
https://en.sputniknews.africa/20231005/west-needs-to-get-rid-of-arrogance-colonial-thinking-putin-says-1062567846.html
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vladimir putin, russia, brics, de-dollarization, development, currency, alternative currency, valdai discussion club
vladimir putin, russia, brics, de-dollarization, development, currency, alternative currency, valdai discussion club
BRICS Needs Transactions in National Currencies, Not Common: Putin
10:07 06.10.2023 (Updated: 13:16 10.10.2023) MOSCOW (Sputnik) - BRICS needs a well-functioning national currency settlement system and financial logistics, not one common currency, Russian President Vladimir Putin said on Thursday.
"As for BRICS, we need not to create a common currency, but to establish a system of settlements, create financial logistics in order to ensure settlement between our states in national currencies, taking into account the situation with our national currencies and the macroeconomic performance of our economies as well as currency rate differences and processes of inflation. It is a tough but manageable situation. We need to work on this," Putin said at the Valdai Discussion Club.
The issue of creating one common BRICS currency has been discussed with experts and is theoretically possible, the Russian president added.
"In order to achieve it some day, we need to reach a certain parity in the development of our national economies. It is a very long-term perspective ... The eurozone has switched to the euro, a common currency, without considering how it would work for countries with different levels of economic development, eventually causing problems. Why would we make the same mistakes," Putin also said, adding that there is a need to improve the financial system as a whole.
