Medvedev predicts global powers will have no choice but to accept new financial order

Business & Economy March 30, 2022, 18:30

The final say will rest with those countries that have a strong and advanced economy and a reliable monetary system, Deputy Chairman of the Russian Security Council noted

MOSCOW, March 30. /TASS/. Deputy Chairman of the Russian Security Council Dmitry Medvedev expects that world powers will be compelled to agree to a new financial order.

"No matter how much anyone dislikes it, a new global financial order will have to be agreed on," he wrote on his Telegram channel on Wednesday.

"In this case, the final say will rest with those countries that have a strong and advanced economy, sound public finances, and a reliable monetary system, and not those who ceaselessly inflate their public debt, issuing ever more pieces of paper into circulation not guaranteed by national wealth, fictitious obligations, for which the decrepit authorities can refuse to pay at any moment," Medvedev maintained.

Consequently, "an era of regional currencies is coming," he noted. "The world is waking up, and confidence in reserve currencies is fading like the morning mist. Abandoning the dollar and the euro as the world's main reserve currencies does not look like such a far-fetched prospect," the Security Council’s deputy chairman wrote.

Read more on the site →