https://sputnikglobe.com/20230718/brazil-wants-to-use-national-currencies-in-trade-with-key-partners---foreign-minister-1111957649.html
Dedollarization: Brazil Wants to Switch to Trade in National Currencies
Dedollarization: Brazil Wants to Switch to Trade in National Currencies
Sputnik International
Brazil is interested in using national currencies in mutual payments with its key trading partners and is working on establishing relevant mechanisms, similar to the one already in place with Argentina, Brazilian Foreign Minister Mauro Vieira told Sputnik.
2023-07-18T05:37+0000
2023-07-18T05:37+0000
2023-07-18T08:55+0000
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"Brazil is extremely interested in using national currencies in trade with our key global partners and is discussing this issue with some of them. For instance, we already have a mechanism with Argentina that provides foreign trade operators with such an opportunity," Vieira said in response to a question whether Brazil would look into the possibility of using Russia's Mir payment system or making other steps towards dedollarization. The minister noted that creating such a system is a lengthy and complex process, which requires the participation of the central banks of all the countries involved. "We must move forward in this direction, and we are doing it, but with all the attention that such very complex processes require," the top diplomat said. In late May, Brazilian President Luiz Inacio Lula da Silva said he would want to see a common currency introduced for the BRICS member states so that Brazil would not need to use US dollars in foreign trade.
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brazil is interested in using national currencies in mutual payments with its key trading partners and is working on establishing relevant mechanisms, similar to the one already in place with argentina, brazilian foreign minister mauro vieira told sputnik.
brazil is interested in using national currencies in mutual payments with its key trading partners and is working on establishing relevant mechanisms, similar to the one already in place with argentina, brazilian foreign minister mauro vieira told sputnik.
Dedollarization: Brazil Wants to Switch to Trade in National Currencies
05:37 GMT 18.07.2023 (Updated: 08:55 GMT 18.07.2023) MONTEVIDEO, (Sputnik) - Brazil is interested in using national currencies in mutual payments with its key trading partners and is working on establishing relevant mechanisms, similar to the one already in place with Argentina, Brazilian Foreign Minister Mauro Vieira told Sputnik.
"Brazil is extremely interested in using national currencies in trade with our key global partners and is discussing this issue with some of them. For instance, we already have a mechanism with Argentina that provides foreign trade operators with such an opportunity," Vieira said in response to a question whether Brazil would look into the possibility of using Russia's
Mir payment system or making other steps towards dedollarization.
The minister noted that creating such a system is a lengthy and complex process, which requires the participation of the central banks of all the countries involved.
"We must move forward in this direction, and we are doing it, but with all the attention that such very complex processes require," the top diplomat said.
In late May, Brazilian President Luiz Inacio Lula da Silva said he would want to see a common currency introduced for the BRICS member states so that Brazil would not need to use US dollars in foreign trade.
