Geopolitical Economy Report
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BRICS Bank is de-dollarizing, promises loans in local currencies to help Global South develop
Posted
April 16, 2023
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43,372
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April 16, 2023
43,372
3,679
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25:33Now PlayingThe new chief of the BRICS bloc’s New Development Bank, Brazil’s leftist ex-President Dilma Rousseff, revealed they are gradually moving away from the US dollar, promising at least 30% of loans in local currencies of members, to help countries in the Global South build infrastructure and fight poverty.
Sources and more information here
BRICS challenges US ‘dollar dominance’, Saudi considers selling oil in other currenciesNew multipolar economic order
Brazil’s Lula travels to China and calls to end US dollar dominance
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