https://en.sputniknews.africa/20240418/brazil-open-to-using-national-currencies-for-intra-brics-trade-finance-minister-says-1066125889.html
Brazil Open to Using National Currencies for Intra-BRICS Trade, Finance Minister Says
Brazil Open to Using National Currencies for Intra-BRICS Trade, Finance Minister Says
Sputnik Africa
The BRICS, which originally consisted of Brazil, Russia, India, China and South Africa, welcomed Egypt, Ethiopia, Iran, the United Arab Emirates and Saudi... 18.04.2024, Sputnik Africa
2024-04-18T11:50+0200
2024-04-18T11:50+0200
2024-04-18T11:50+0200
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Brazil is open to the possibility of using national currencies for settlements when trading inside BRICS and is actively discussing it at the moment, Brazilian Minister of Finance Fernando Haddad said on Wednesday in response to a question from Sputnik on the margins of the IMF-World Bank Spring Meetings.Many BRICS countries have been actively promoting de-dollarization and the use of national currencies in recent years.In late-February, Russian President Vladimir Putin criticized the West's reliance on the dollar-centric financial system and its use to pressure other countries.
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international, brazil, brics, currency, alternative currency, us dollar, ditching dollar, de-dollarization, economy, trade, world bank
international, brazil, brics, currency, alternative currency, us dollar, ditching dollar, de-dollarization, economy, trade, world bank
Brazil Open to Using National Currencies for Intra-BRICS Trade, Finance Minister Says
The BRICS, which originally consisted of Brazil, Russia, India, China and South Africa, welcomed Egypt, Ethiopia, Iran, the United Arab Emirates and Saudi Arabia as full members of the bloc on January 1, 2024.
Brazil is open to the possibility of using national currencies for settlements when trading inside
BRICS and is actively discussing it at the moment, Brazilian Minister of Finance Fernando Haddad said on Wednesday in response to a question from Sputnik on the margins of the IMF-World Bank Spring Meetings.
"There are a lot of discussions in BRICS regarding the use of alternative financial instruments to develop trade between BRICS members, and trade between BRICS members and third countries. What is currently attracting the most attention is the ability to trade in local currencies. In my opinion, this is something that can be used in the short term to develop regional trade," Haddad said.
Many BRICS countries have been actively promoting de-dollarization and the use of national currencies in recent years.
In late-February, Russian President Vladimir Putin
criticized the West's reliance on the dollar-centric financial system and its use to pressure other countries.
