Page 2 - De Dollarisation News Today

KUALA LUMPUR: About RM58bil of Malaysia’s trade with three trading partners is transacted in ringgit, said Datuk Seri Anwar Ibrahim.

Regulatory incentives could be on the way for commercial banks to help develop their local currency trading and settlement infrastructure.

China dropping US Treasury bonds is a long-term strategy prompted by uncertainty surrounding the US’ economic prospects, monetary policies, and political instability, per the Chinese press.

At the Brics Summit in South Africa, members made calls for changes to the World Bank and the International Monetary Fund.

De-dollarisation 'desirable' but a substitute currency is a long way off

There hasn’t been a deal yet on de-dollarisation, allowing the US dollar to remain central to global trade, including between BRICS members.

The share of the bloc in world GDP has been on the rise; it accounted for more than a quarter in 2022.

Despite putting on a jolly good show hosting the Brics summit, SA remains the bloc’s weakest member

Aside from a distaste for US clout in global finance, economics and geopolitics – the BRICS countries, arguably, have very little in common. So it begs the question, how much can it achieve as a coalition? 

Brics summit today. it will mostly be closed to the media, but we do expect that there are going to be discussions around the possible expansion of the brics bloc. there are already some disagreements in terms of the criteria that is going to be used to ensure that applicants are allowed. we do know also that at least 20 other countries have applied formally to be part of the brics bloc, and that includes countries like nigeria, saudi arabia, argentina, and the uae. and we also know that the pre...