Posts in BRICS

August 25, 2023 06:29 AM / by LegitFOMO

Explore the BRICS nations' strategic push towards using local currencies in international trade, its potential impact, and the challenges ahead.

July 24, 2023 11:17 AM / by TOGRP

The BRICS bloc, comprising Brazil, Russia, India, China, and South Africa, has emerged as a significant global alliance in recent years. In this article, we delve into the potential significance of the next BRICS summit and the implications of the predicted high-level attendance.

July 12, 2023 11:47 PM / by TOGRP

Russia's central bank has raised concerns about the implementation of a currency backed by the BRICS nations (Brazil, Russia, India, China, and South Africa), emphasizing the need for the consent of multiple parties involved. The creation of a BRICS currency would require extensive coordination and face various implementation challenges. This article explores the central bank's statements, the complexities involved in establishing a BRICS currency, and the potential implications for the global f

July 12, 2023 11:40 PM / by TOGRP

Renowned author and investor Robert Kiyosaki has issued a warning about the future of the US dollar, suggesting that it is destined to collapse. Kiyosaki points to the plans of BRICS nations to launch a gold-backed currency as evidence of the dollar's impending demise. This article explores Kiyosaki's statements, the potential implications of a gold-backed currency, and the broader context of the US dollar's role in the global financial system.

July 11, 2023 11:04 PM / by TOGRP

India's External Affairs Minister has emphasized the importance of maintaining the strength of the Indian Rupee (INR) and has chosen to prioritize this over participating in currency talks within the BRICS (Brazil, Russia, India, China, South Africa) group. This stance reflects India's commitment to preserving the stability and competitiveness of its currency in the global market.

July 10, 2023 05:04 AM / by TOGRP

U.S. Treasury Secretary Janet Yellen has made statements dismissing the potential impact of the BRICS nations' proposed currency on the dominance of the U.S. dollar. According to her, the prospective introduction of a gold-backed currency by BRICS countries (Brazil, Russia, India, China, and South Africa) will not pose a significant threat to the prevailing supremacy of the U.S. dollar.

July 9, 2023 02:40 AM / by TOGRP

A top official from the BRICS Bank has engaged in discussions surrounding the possibility of a common currency for BRICS nations, while reports of a gold-backed BRICS currency have captured attention. This article explores the statements made by the BRICS Bank official, examines the concept of a common currency, and delves into the potential implications of a gold-backed BRICS currency.

June 24, 2023 08:11 AM / by TOGRP

Brazilian President Luiz Inácio Lula da Silva has revealed his intention to raise the issue of de-dollarization at the next BRICS meeting. “Why Brazil and Argentina would trade in dollars. Why don’t we do it in our own currencies? Why can’t Brazil and China trade in their currencies? The question of why I need to buy dollars is on my agenda,” said the Brazilian president.

June 3, 2023 05:45 AM / by TOGRP

Countries in the BRICS bloc intend to encourage the use of local currencies in cross-border trade, their foreign ministers revealed. The top diplomats, who met in South Africa, also emphasized

May 29, 2023 05:29 AM / by TOGRP

Belarus' President Alexander Lukashenko, where he revealed the country's strategy to deepen relations with multinational organizations such as BRICS (Brazil, Russia, India, China, South Africa), the Shanghai Cooperation Organization (SCO), and the Association of Southeast Asian Nations (ASEAN) in response to sanctions.

May 27, 2023 06:02 AM / by TOGRP

The President of Brazil, Luiz Inacio Lula da Silva (also known as Lula), recently stated that the government of Brazil regards the development bank established by the BRICS bloc as an alternative to traditional financial institutions

May 26, 2023 05:44 AM / by TOGRP

The Roscongress Foundation, a Russian think tank, has profiled the New Development Bank, known as the BRICS bank, as an alternative to the International Monetary Fund (IMF) in its latest “Decolonization in Energy Markets” report. Nation members could secure loans based on their energy-exporting capabilities, which would be liquid, and similar to the Special Drawing Rights (SDR) asset.

May 26, 2023 12:13 AM / by TOGRP

The European Systemic Risk Board (ESRB), in its most recent report on the “systemic implications” of cryptocurrencies, has stated that the crypto sector does not currently pose any systemic risks to the real economy. According to the ESRB, the existing links between the crypto sector and the traditional financial sector are not “significant” enough to warrant major concerns.

May 24, 2023 04:03 AM / by TOGRP

The chairman of VEB.RF, Russia's national economic development institution, has called upon China and Russia to expedite the establishment of an advanced payment system to facilitate transactions involving currencies from the Shanghai Cooperation Organization (SCO) and BRICS nations