The country’s authorities say that “false information has led to a false narrative” about the creation of such currency.
BRICS does not intend to form a common currency. This rejection was announced by the government of the Republic of South Africa (RSA) against the backdrop of the announcement by US President-elect Donald Trump of plans to introduce 100% tariffs on goods from countries that support the creation of an “alternative” to the dollar. . A denial of plans for an “alternative currency” was published by the South African Ministry of Foreign Affairs, Bloomberg reports.
“Recent publications of misinformation have led to the incorrect narrative that BRICS is planning to create a new currency. This is not true. Discussions within BRICS have focused on trade between member countries using their own national currency,” the department said.
South Africa says it supports “the widespread use of national currencies in international trade and financial transactions to mitigate the impact of exchange rate fluctuations and is not committed to de-dollarization.”
BRICS, which unites Brazil, Russia, India, China, and South Africa, called for the reform of the international financial system and the introduction of a new “common currency,” but did not agree to it.
The New Development Bank (NDB), created by the BRICS countries, continues to rely on the dollar for its investments, which exceed US$30 billion in member countries and other developing countries, the media said.
As you know, Trump intends to increase customs tariffs on goods from Mexico, Canada and China on his first day in the White House. Tariffs will remain in place until drugs and all illegals “stop the onslaught,” he said.
Source: korrespondent
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