common currency – DIGIT INFO

Former Russian PM: BRICS Not Ready for Common Currency

DIGIT — Tue, 27 Aug 2024 03:30:45 +0000

Sergey Stepashin, Russia’s former prime minister, explained that it’s premature to discuss a common BRICS currency, emphasizing the importance of increasing payments in national currencies instead. He cited challenges in creating a common currency, particularly between large economies like India and China. While some BRICS members support a single currency, Stepashin advocates for enhancing financial […]

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Push to Use National Currencies in SCO Cannot Be Stopped, Russia’s Lavrov Says

DIGIT — Sat, 06 May 2023 14:19:59 +0000

Efforts to transition to trade in national currencies in the Shanghai Cooperation Organization (SCO) can no longer be stopped, according to Russian Foreign Minister Sergey Lavrov. During a meeting with his colleagues in India, Moscow’s top diplomat also discussed the similar initiative within BRICS. Sergey Lavrov Convinced SCO Countries Will Switch to National Currencies, Won’t […]

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Argentine Foreign Minister Says a Latin American Common Currency Would Relieve Argentina’s Stress on the Dollar Issue

DIGIT — Fri, 05 May 2023 08:19:57 +0000

Argentine Foreign Minister Santiago Cafiero referred to the advantages the issuance of a Latin American common currency would give Argentina. Cafiero stated that the existence of such a currency would relieve the stress that the country is currently facing regarding the state of its foreign reserves and the devaluation of its fiat currency. Argentine Foreign […]

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BRICS to Promote National Currencies Before Issuing Common One

DIGIT — Mon, 01 May 2023 06:19:56 +0000

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 Fiats of […]

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Opinion: Have Brazil’s Lula and Argentina’s Fernandez heard of cryptocurrency?

DIGIT — Tue, 31 Jan 2023 18:09:18 +0000

Brazil’s Luiz Inácio Lula da Silva and Argentina’s Alberto Fernández want to create a “common currency.” It sounds suspiciously like a state-controlled cryptocurrency.

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Latam Common Currency to Focus on Settlements Among Mercosur and BRICS Countries

DIGIT — Wed, 25 Jan 2023 12:30:08 +0000

President of Brazil Luis Inacio Lula Da Silva clarified the scope and reach of the common currency that Brazil and Argentina are studying to issue in Latam. Lula Da Silva clarified that he believed this currency would be used to settle cross-border payments between the two countries and also countries from BRICS and Mercosur. Lula […]

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Elon Musk Praises Reports on Latam Common Digital Currency: ‘Probably a Good Idea’

DIGIT — Wed, 25 Jan 2023 07:30:43 +0000

Elon Musk, CEO of Twitter, SpaceX, and Tesla, has given his opinion about the latest reports on the creation of a common currency in Latam, to be initially worked on by Argentina and Brazil. Musk stated that this move would be “probably a good idea,” commenting on the topic on social media. Elon Musk Gives […]

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Brazil and Argentina to Start Working on Creation of Latam Common Currency

DIGIT — Tue, 24 Jan 2023 11:00:30 +0000

Brazil and Argentina are looking to begin work on the issuance of a common currency. Sergio Massa, minister of the economy of Argentina, also stated that the two countries will be inviting other nations in the area to join this economic integration project in the future. Brazil and Argentina to Spearhead Common Currency Issuance Project […]

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East African Community to Decide on Regional Central Bank Launch in 2023

DIGIT — Thu, 19 Jan 2023 10:30:21 +0000

The East African Community (EAC) will decide during the course of the year 2023 when and where it will locate the envisioned regional central bank, the regional intergovernmental organization’s Peter Mathuki has reportedly said. The setting up of the regional central bank is expected to help the EAC achieve its goal of attaining a single […]

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Relaunch of USAN — the Union of South American Nations — in Latam Profiles New Monetary Integration

DIGIT — Wed, 16 Nov 2022 11:00:12 +0000

A proposal for relaunching the currently defunct USAN, the Union of South American Nations, profiles a future monetary integration amongst the countries of the organization. The proposal, made by several former presidents of countries in Latam, reinforces the need for regional integration to overcome common problems in the area, including poverty. USAN Relaunch Proposal Includes […]

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