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Russia BRICS
28.11.23 14:17
Economics

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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