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28.11.23 14:17

Economy

In 2024, BRICS leaders will consider options for a unified payment system of the alliance

Russia, as BRICS chair, will organise their thorough consideration

Russia expects that next year the heads of BRICS member states will be presented with recommendations on alternative payment systems. This was stated by Russian Foreign Minister Sergei Lavrov, speaking at the Primakov Readings forum. This is reported by TASS.

He noted that the declaration adopted by the leaders of the BRICS countries at the BRICS summit in South Africa instructed the heads of finance ministries and the heads of the Central Bank to prepare recommendations on alternative payment platforms.

The foreign minister also said that Russia would organise their careful consideration. Lavrov recalled that in 2024 Russia will lead the BRICS bloc.

According to him, Brazilian President Luiz Inacio Lula da Silva showed special interest in the use of national currencies in settlements between the BRICS countries and subsequently in the creation of a single payment system.

The Minister stressed that national currencies are already actively replacing the dollar in the calculations of the Russian Federation with China and India.

It should be noted that Sergey Glazyev, Russian economist, Minister in charge of Integration and Macroeconomics of the Eurasian Economic Commission, in an exclusive interview with TV BRICS, spoke about the potential of a single currency of the BRICS countries for international settlements, the difficulties of its creation and benefits for the member states of the association.

The IX International Scientific and Expert Forum "Primakov Readings" on the theme "Postglobalisation Horizons" takes place on 27-28 November in Moscow.

Photo: IStock

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Prabowo Subianto

President of Indonesia

"This roadmap sets the framework for our joint efforts. Indonesia and Belarus have great potential for expanding cooperation in various fields. Our cooperation will focus on industrial development and agricultural modernisation. In industry, we see a major opportunity to increase trade volumes, investment, and cooperation between our two countries. We are also pushing for closer collaboration in culture and human resource development"

Liao Fan

Director of the Institute of World Economics and Politics at the Chinese Academy of Social Sciences (CASS)

"We also encourage countries of the Global South to work together and contribute to the global economy. We also call on developed countries to set aside issues such as national security and strategic competition when we are discussing real global challenges – pressing issues such as public health or poverty reduction – so that development resources can be channelled truly effectively to those countries that need them. [...] Major powers and large countries must bear greater responsibility for the well-being of people around the world. This is the responsibility of the major powers"

Anutin Charnvirakul

Prime Minister of Thailand

"Russia has been a trusted friend of Thailand for over a century. […] Next year, we will mark the 130th anniversary of the establishment of diplomatic relations between our countries. We will commemorate this important milestone with high-level exchanges, thereby reaffirming our shared commitment to an even stronger partnership for the benefit of our peoples"

Ferdinand Marcos

President of the Republic of the Philippines

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Anwar Ibrahim

Prime Minister of Malaysia

"The relations in the last few years have been remarkable. We have seen impressive development, and my visit was – you were fantastic. We see the enormous role that Russia can play not only in Malaysia but also in the developing world, ASEAN and the rest. We are exploring this halal economy and finance. We are now almost finishing the visa abolition arrangement. [...] And then you have also agreed to these flights for tourism, for trade, and connectivity between Malaysia, Moscow, Kazan, and other cities in Russia"

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