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Former Russian PM: BRICS Not Ready for Common Currency

[Aug 27 3:30 AM] Sergey Stepashin, Russia’s former prime minister, explained that it’s premature to discuss a common BRICS currency, emphasizing the importance of increasing payments in national currencies instead. He cited challenges in creating a common…

Ministry of Economic Development of Russia Pessimistic About Quickly Advancing BRICS Common Currency Proposal

[Aug 25, 2023 12:30 AM] The Ministry of Economic Development of Russia does not expect the rapid development of a common currency for the BRICS bloc. Deputy Economic Development Minister Vladimir Ilyichev stated that “quick breakthroughs” on this issue are…

BRICS Discussing Single Unit of Account, Alternative to Dollar, Russian Finance Minister Says

[Aug 24, 2023 3:00 AM] The BRICS members are mulling over the possible launch of a common unit of account, Russia’s Minister of Finance Anton Siluanov unveiled. This would be an alternative to the U.S. dollar that can be used to denote the cost of some commodities, for…

US Dollar to Remain Major Global Currency, South Africa’s BRICS Sherpa Says

[Aug 17, 2023 1:30 AM] BRICS plans to discuss trade in national currencies at its summit but de-dollarization is not on the agenda, South Africa’s BRICS Sherpa stated. The talks in Johannesburg next week will also focus on the expansion of the bloc of emerging economies…

India’s External Affairs Minister Shuns BRICS Currency Talks, Prioritizes Rupee’s Strength Instead

[Jul 11, 2023 8:00 AM] Members of the BRICS alliance are meeting at a summit in Johannesburg, South Africa, in August, focusing attention on the potential for the BRICS bloc to create a gold-backed reserve currency. However, Subrahmanyam Jaishankar, India’s…

Expert Claims Proposed BRICS Common Currency Poised to Undermine US Dollar Dominance

[May 19, 2023 11:30 PM] A recent report from China’s Global Times reveals that Zhou Yu, an international finance research director at the Shanghai Academy of Social Sciences, believes that the proposed BRICS cross-border currency is a significant step in challenging…

Push to Use National Currencies in SCO Cannot Be Stopped, Russia’s Lavrov Says

[May 6, 2023 7:30 AM] Efforts to transition to trade in national currencies in the Shanghai Cooperation Organization (SCO) can no longer be stopped, according to Russian Foreign Minister Sergey Lavrov. During a meeting with his colleagues in India, Moscow’s top diplomat…

Argentine Foreign Minister Says a Latin American Common Currency Would Relieve Argentina’s Stress on the Dollar Issue

[May 5, 2023 1:30 AM] Argentine Foreign Minister Santiago Cafiero referred to the advantages the issuance of a Latin American common currency would give Argentina. Cafiero stated that the existence of such a currency would relieve the stress that the country is…

BRICS to Promote National Currencies Before Issuing Common One

[May 1, 2023 12:00 AM] The BRICS bloc is now focused on expanding the use of the currencies of its members, according to the representative of one of them. The establishment of a single currency for the group is not an immediate task at this point in time, the diplomat…

Opinion: Have Brazil’s Lula and Argentina’s Fernandez heard of cryptocurrency?

[Jan 31, 2023 12:09 PM] Brazil’s Luiz Inácio Lula da Silva and Argentina’s Alberto Fernández want to create a “common currency.” It sounds suspiciously like a state-controlled cryptocurrency.

Latam Common Currency to Focus on Settlements Among Mercosur and BRICS Countries

[Jan 25, 2023 6:30 AM] President of Brazil Luis Inacio Lula Da Silva clarified the scope and reach of the common currency that Brazil and Argentina are studying to issue in Latam. Lula Da Silva clarified that he believed this currency would be used to settle cross-border…

Elon Musk Praises Reports on Latam Common Digital Currency: ‘Probably a Good Idea’

[Jan 25, 2023 1:30 AM] Elon Musk, CEO of Twitter, SpaceX, and Tesla, has given his opinion about the latest reports on the creation of a common currency in Latam, to be initially worked on by Argentina and Brazil. Musk stated that this move would be “probably a…

Brazil and Argentina to Start Working on Creation of Latam Common Currency

[Jan 24, 2023 5:00 AM] Brazil and Argentina are looking to begin work on the issuance of a common currency. Sergio Massa, minister of the economy of Argentina, also stated that the two countries will be inviting other nations in the area to join this economic integration…

East African Community to Decide on Regional Central Bank Launch in 2023

[Jan 19, 2023 4:30 AM] The East African Community (EAC) will decide during the course of the year 2023 when and where it will locate the envisioned regional central bank, the regional intergovernmental organization’s Peter Mathuki has reportedly said. The setting…

Relaunch of USAN — the Union of South American Nations — in Latam Profiles New Monetary Integration

[Nov 16, 2022 5:00 AM] A proposal for relaunching the currently defunct USAN, the Union of South American Nations, profiles a future monetary integration amongst the countries of the organization. The proposal, made by several former presidents of countries in Latam…