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The development bank set up by the BRICS bloc is negotiating with Saudi Arabia on accepting the country as a member, according to a press report. The talks come as the bank, created as an alternative to similar institutions led by the West, seeks to expand its funding options amid sanctions on one of its [...]
The post BRICS Bank in Membership Talks With Saudi Arabia, Report Reveals appeared first on Crypto Breaking News.
The government of Argentina has noted that 19% of all imports authorized in the national system were settled using the Chinese yuan in April and May. $2.72 billion in Chinese yuan were approved to complete these payments, taking advantage of the Chinese swap line to preserve the dollar reserves of the country, according to Commerce [...]
The post Argentina Settled Almost 20% of Its Imports in April and May Using the Chinese Yuan appeared first on Crypto Breaking News.
Egypt has filed an application to join the BRICS bloc, Russia’s ambassador to the Arab nation confirmed. The government in Cairo is interested in using alternative currencies in foreign trade, either national fiats or a new common currency, the diplomat unveiled. Egypt Takes Step to Join BRICS Club, Russia Backs Bid Egypt has applied to [...]
The post Egypt Applies for BRICS Membership, Seeks Trade in National Currencies appeared first on Crypto Breaking News.
Dilma Rousseff, president of the New Development Bank — also known as the BRICS bank — and former Brazilian president, has called for establishing a financial architecture designed for the so-called Global South. In a keynote speech at the 14th Lujiazui Forum, Rousseff remarked on the importance of this new structure for promoting sustainable growth.
The post BRICS Bank President Dilma Rousseff Calls for the Creation of a Global South Focused Financial System appeared first on BTC Ethereum Crypto Currency Blog.
According to Brazil’s president Luiz Inácio Lula da Silva, developing countries should abandon the U.S. dollar and strengthen their own national currencies. During a speech at the New Development Bank in Shanghai, Lula expressed his nightly pondering: “Why do all countries have to base their trade on the dollar?” Brazil’s President Wants to Reduce the [...]
The post Brazil’s President Lula Urges Developing Countries to Abandon Dollar as Global Reserve Currency appeared first on Crypto Breaking News.
The BRICS Bank’s vice president and chief financial officer has shed light on the economic bloc’s aspiration to develop a common BRICS currency. His remarks followed recent reports suggesting that Russia has confirmed the BRICS’ plan to introduce a gold-backed common currency, with an official announcement expected to be made during the forthcoming BRICS leaders’
The post BRICS Bank Official Discusses Common Currency as Reports of Gold-Backed BRICS Currency Gain Attention appeared first on BTC Ethereum Crypto Currency Blog.
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