Russian President Vladimir Putin played host at this year's BRICS summit.Stanislav Krasilnikov /Photohost Ag/Anadolu/Getty ImagesRussian President Vladimir Putin tempered expectations on de-dollarization at BRICS's summit.Putin said BRICS was aiming to use local currencies, not to create a SWIFT alternative.BRICS countries are expected to drive global economic growth but face challenges in reducing dollar reliance.Russian President Vladimir Putin appears to be tempering expectations on his de-dollarization drive.Putin has made it clear he's keen to develop alternatives to the US-dollar-denominated order.
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htan@insider.com (Huileng Tan), Business Insider
Fri, 10/25/2024 - 2:06am
Topics: stanislav krasilnikov /photohost ag/anadolu/getty imagesrussian president vladimir putin kazan declaration sufficient."in president putin brazil russia india south africa iran egypt ethiopia united arab emirates bloomberg international monetary fund g7 gdp dm king dollar alexander kolyandr center european policy analysis dollar tom keatinge finance security uk's royal united services institute business insider russian president vladimir putin brics putin russian swift kazan ing china years de-dollarization global system financial currencies alternative growth payment analysts systems group summit local countries expected payments economies cross-border banks idea currency extent issues share central drive form expectations highlighted press based alternatives order bank flows dominance added wednesday shows member wrote states transactions bigger world greenback
BING NEWS:
- Putin has spent years championing de-dollarization — but a new reality is setting in
The Russian president said the BRICS group was trying to resolve payment issues with national currencies.
10/25/2024 - 4:18 pm | View Link - Putin has spent years championing the idea of de-dollarization — but a new reality is setting in
Russian President Vladimir Putin appears to be tempering expectations on his de-dollarization drive. Putin has made it clear that he is keen to develop alternatives to the US dollar-denominated order.
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10/23/2024 - 5:05 pm | View Link - Xi and Putin might be way in over their heads with de-dollarization
Xi Jinping and Vladimir Putin are leading efforts to knock the U.S. dollar down a peg. With Russia as the current chair of BRICS, and the Kazan summit set for October 22, both leaders are pushing to ...
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