RIAC :: NDB,Finance

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Barriers to de-Dollarization Within BRICS

... institutions would not be in BRICS countries' favour in the near future, and hence emphasized the importance of a new Multilateral Clearing Union (MCU) which would serve as an intra-BRICS currency swap pool and tackle balance of payment shortcomings, trade finance, financial crisis aversion, and an overall restoration of sovereignty by de-dollarizing BRICS trade (NDB, 2017). This intention was also echoed in the 2017 BRICS Xiamen Summit declaration, which stated : “ We agree to …enhance currency cooperation, consistent with each central bank's legal mandate, including through currency swap, local currency ...

01.02.2021

analytics

R6 — the Case for a New Global Currency Basket

..., Iran’s Rial and South Africa’s Rand. So why not considering a new currency called R6 or Robust, Resolve, Relay or Reform ? Establishing a new currency purpose oriented for trade among these six economies is long overdue. The Sr. Management of NDB can easily expand the remit of the bank by entering trade finance and project finance between these six countries alone. The bank could ask its shareholders to deploy and commit some of their gold reserves (abundant resources and gold mines in Russia, Iran, and South Africa) to this new currency to accelerate ...

11.09.2019

expert column

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U.S. wants to establish partnership relations with Russia on condition that it meets the U.S. requirements	33 (31%)
U.S. wants to deter Russia’s military and political activity	30 (28%)
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U.S. wants to establish alliance relations with Russia under the US conditions to rival China	21 (19%)