De-dollarization Archives

Over 40 Countries Ready to Join BRICS for ‘Inclusive and Equitable Global Order,’ Top Official Claims

A top South African official has claimed that over 40 countries are ready to join the BRICS international economic alliance. BRICS - Brazil, Russia, India, China, and South Africa - was formed by the world's fastest-growing economies in 2009 as a rival to the dominant dollarized G7 bloc. Before the…

IMF Suggests Countries Will Be Able to Use Chinese Yuan for Debt Repayment

The International Monetary Fund (IMF) has suggested that it may accept the Chinese Yuan as a currency for countries to pay their debts. The hint at changing the currency for settling obligations with the IMF comes following Argentina’s recent debt repayment in yuan. IMF spokesperson Julie Kozack confirmed on Thursday…

BRICS De-Dollarization Push Gathers Momentum

The push for de-dollarization led by the BRICS group is continuing to gather momentum as Indonesia moves to shift away from the U.S. dollar for trade and financial transactions. The Indonesian central bank announced that it has updated its policy to shift away from the U.S. dollar and is following…

France Calls on Europe to Ditch U.S Dollar, Seek ‘Strategic Autonomy’

France has called on fellow European nations to seek "strategic autonomy" by ditching the U.S. dollar and reducing reliance on the United States. The call for de-dollarizing came after French President Emmanuel Macron met with Chinese Communist Party (CCP) leader Xi Jinping during a three-day official state visit to China.…