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BRICS Bank in Membership Talks With Saudi Arabia, Report Reveals
29.5.2023
The development bank set up by the BRICS bloc is negotiating with Saudi Arabia on accepting the country as a member, according to a press report. The talks come as the bank, created as an alternative to similar institutions led by the West, seeks to expand its funding options amid sanctions on...
Brazil Sees BRICS Bank as Alternative Financial Institution, President Lula Says
27.5.2023
The government of Brazil views the development bank established by the BRICS bloc as an alternative to traditional financial institutions, the country’s head of state told African diplomats. President Lula da Silva also vowed that the bank will improve cooperation with its African counterpart....
Brazilian President Lula to Act as BRICS Liaison to Help Argentina, Discusses Credit Line in Brazilian Reals
5.5.2023
Brazilian President Luiz Inacio Lula da Silva stated Brazil will serve as a facilitator to try and arrange BRICS bloc assistance for Argentina. Lula stated that the New Development Bank — the BRICS bank — could modify some of its rules to aid Argentina. Also, the two countries are negotiating...
BRICS to Promote National Currencies Before Issuing Common One
1.5.2023
The BRICS bloc is now focused on expanding the use of the currencies of its members, according to the representative of one of them. The establishment of a single currency for the group is not an immediate task at this point in time, the diplomat indicated in an interview. Wider Use of National...
Brazil’s President Lula Voices Support for BRICS Currency
27.4.2023
Brazil’s president, Luiz Inacio Lula da Silva, has expressed support for the creation of a BRICS currency. His statement of support comes as the BRICS bloc is gaining global influence, with 19 countries seeking to join the group. Brazilian President Lula Supports BRICS Currency Creation Brazilian...
Financial Analyst Charles Nenner Warns About the End of the US Dollar and Its Consequences
22.4.2023
Charles Nenner, a financial analyst that served as head of market timing for Goldman Sachs for more than a decade, has warned about the end of dollar hegemony and its consequences for the U.S. According to Nenner, the BRICS bloc and the influence of Saudi Arabia will end the dollar as a reserve...
Economist and Political Scientist Refute Claims of US Dollar’s Demise Despite Trend of De-Dollarization News
17.4.2023
This year, there has been a flurry of news reports and opinion editorials discussing an alleged de-dollarization trend amid a wave of disclosures associated with the BRICS bloc. In a recent article, the American political scientist and author Ian Bremmer insisted that claims of the U.S. dollar...