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BRICS Invites 69 Leaders to August Summit — Western Countries Omitted
26.7.2023
The BRICS economic bloc has invited 69 leaders to its upcoming summit, including all African heads of state and the political heads of major Global South bodies. More than 40 countries have expressed interest to join the BRICS group, with 22 nations already having submitted official applications....
BRICS Currency Not on Agenda for Leaders’ Summit — Nations to Focus on De-Dollarization
23.7.2023
The heavily anticipated BRICS currency is not on the agenda to be discussed at the economic bloc’s upcoming leaders’ summit, according to South Africa’s diplomat in charge of BRICS relations. He clarified that the BRICS members will focus on de-dollarization and promoting the use of national...
BRICS Interest Soars: 40+ Countries Seek Membership as De-Dollarization Efforts Grow
21.7.2023
South Africa’s top diplomat responsible for BRICS relations has revealed that more than 40 countries are interested in joining the economic bloc. Among them, 22 nations have formally applied for membership. He believes that the BRICS group could expand to include more than 50 countries. BRICS...
JPMorgan Warns Dollar Dominance Faces Risks From Political Instability, US-China Tensions
21.7.2023
JPMorgan has warned of the risks to the U.S. dollar’s dominance from escalating U.S.-China tensions and political instability. The global investment bank’s strategists anticipate “partial de-dollarization,” in which the Chinese yuan gradually assumes a more significant role...
Nobel Laureate Paul Krugman Says US Dollar Dominance Won’t Last Forever but Doubts Chinese Yuan Can Replace USD
18.7.2023
Nobel Prize-winning economist Paul Krugman says the U.S. dollar’s dominance “won’t last forever.” While recognizing the global de-dollarization trend, he expressed skepticism about the Chinese yuan’s ability to replace the U.S. dollar as the world’s dominant...
IMF Has Not Seen Specific Proposal on BRICS Currency
16.7.2023
The International Monetary Fund (IMF) has not seen any specific proposal on a common BRICS currency. However, the IMF acknowledges the presence of “slow-moving trends” indicating shifts in the currency composition of reserves and trade. The Fund’s statement followed reports that...
Russia, 10 Southeast Asian Nations Discuss Using National Currencies in Trade Settlements
15.7.2023
Russia is discussing using national currencies in trade settlements with 10 Southeast Asian countries, members of the Association of Southeast Asian Nations (ASEAN), Russian Foreign Minister Sergey Lavrov has revealed. The move comes as more and more countries worldwide are seeking to de-dollarize....
Economist Predicts End of US Dollar Dominance as More Countries De-Dollarize
13.7.2023
The chief economist at S&P Global has predicted that the U.S. dollar “will no longer be the dominant world currency.” Highlighting the diminishing influence of the USD, he pointed out that an increasing number of countries are de-dollarizing, noting that the Chinese yuan is growing...
India Poised to Leapfrog Major Economies, Becoming World’s Second-Largest by 2075, Goldman Sachs Report Predicts
11.7.2023
In a recent report, Goldman Sachs Research details that India is set to outpace Japan, Germany, and the U.S. to become the world’s second-largest economy by 2075. The financial institution’s researchers predict a dramatic expansion in India’s gross domestic product. Economic...
Google Trends Data Reflects Rising Interest in BRICS Bloc and De-Dollarization Searches
10.7.2023
Set to take place in less than two months, the upcoming BRICS Summit in Johannesburg, scheduled for August 22 to 24, has captured global attention. Anticipation is mounting as ministers from the BRICS countries convene to explore potential avenues for expanding the bloc’s membership...
Iran Looking to Replace Dollar With Dinar in $10 Billion Trade With Iraq
10.7.2023
Iran’s government considers employing the Iraqi dinar in bilateral trade with Iraq in a bid to further curtail the dominance of the U.S. dollar. The annual turnover between the two neighboring nations exceeds $10 billion with millions of pilgrims and health tourists crossing the border each year....
Latam Insights — Bolivia Calls for De-Dollarization, Reserve Drops Fiat Services
10.7.2023
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue, Bolivian President Luis Arce calls for de-dollarization at the Southern Common Market Summit, Reserve drops fiat services in Latam, and Argentina postpones...
BRICS Bank Official Discusses Common Currency as Reports of Gold-Backed BRICS Currency Gain Attention
9.7.2023
The BRICS Bank’s vice president and chief financial officer has shed light on the economic bloc’s aspiration to develop a common BRICS currency. His remarks followed recent reports suggesting that Russia has confirmed the BRICS’ plan to introduce a gold-backed common currency, with...
Bitcoin Price Prediction: Insights from BlackRock CEO and Calls for DE Dollarization
6.7.2023
Bitcoin price is currently trading at $30,543, experiencing around 1% decrease on Thursday. Notably, Larry Fink, the esteemed leader of BlackRock, has expressed his support for Bitcoin, recognizing its potential to revolutionize the financial landscape.
Despite the recent decline, Bitcoin...
Iran’s President Says De-Dollarization Key to a Fair International System
6.7.2023
Iran’s President Ebrahim Raisi has pushed for de-dollarization, stating that any attempt to “shape a fair international system” requires the removal of the U.S. dollar. “What forms the basis of the Western domination system has been the dominance of the dollar,” the Iranian leader stressed. Iranian...
Bolivia’s President Calls on South American Countries to Ditch US Dollar, Bolster Alliances With China and BRICS
6.7.2023
Bolivia’s President Luis Alberto Arce Catacora (Lucho Arce) has urged members and associated states of the Mercosur trade bloc to de-dollarize and establish stronger strategic alliances with international organizations, including the BRICS group. “We are experiencing a crucial moment...
Chatgpt Accounts Found on Darknet, North Korean Analyst on Dollar Dominance, BCH Hashrate Rises With Price, and More — Week in Review
2.7.2023
It’s been an action-packed week in the world of finance and crypto, and moving into July, there’s a lot to cover to get up to speed: compromised Chatgpt accounts being sold on darknet markets, Bitcoin Cash’s hashrate shooting upward with the BCH price, a North Korean analyst...
Argentina Allows Banks to Open Yuan Accounts — Economist Says It Could Boost Chinese Currency as Safe Haven Alternative to US Dollar
2.7.2023
The central bank of Argentina has officially included the Chinese yuan as a recognized currency for making deposits in bank accounts. “Opening yuan accounts could attract more people and enterprises to exchange Argentinian peso to yuan, as more or less a ‘safe haven’ currency, instead of exchanging...
IMF Director: Iranians, Brazilians, Saudis Switching to Trade in Chinese Yuan as De-Dollarization Gains Momentum
28.6.2023
The International Monetary Fund’s (IMF) executive director for Russia says a growing number of countries are switching to trade in Chinese yuan, not only with China but also with third countries. He stressed that it is wrong for the U.S. dollar to be widely used globally given that the U.S....
North Korean Analyst Warns of Accelerating End to Dollar Dominance — Says BRICS Poses Challenge to US Hegemony
27.6.2023
A North Korean analyst has cautioned that the actions taken by the U.S. to restrict the usage of the dollar and the growing interest of countries to join the BRICS bloc are “accelerating” the decline of the USD as the world’s dominant currency. North Korean State Media...