Russia to offer BRICS partners to use digital currencies for investments — Putin

Business & Economy October 18, 18:28

The Russian president added that creating "such an instrument that will be practically non-inflationary" could be another step in the development of the Global South

NOVO-OGAREVO, October 18. /TASS/. Russia will offer BRICS partners to use digital currencies in investments, Russian President Vladimir Putin said at a meeting with the heads of the BRICS media.

"Now we want to offer our colleagues - I will not go into detail yet - but we want to offer a rather serious thing - using digital currencies in investment processes," the head of state said.

"And not only in the BRICS member countries, but by the BRICS member countries in the interests of other developing economies that have good development prospects. Moreover, we can create such an instrument that will be practically non-inflationary. It will be under the control of the relevant BRICS institutions. This could be another very interesting good step in the development of the Global South and with our direct active participation," Putin added.

He noted that relevant consultations are already underway.

"We are already holding consultations with our Chinese friends, with our Indian friends, and we have just held consultations with the Brazilians. And we will definitely talk to South Africa. We will do this with everyone, we are doing this. We are moving forward gradually. But it seems to me that this is not enough. After all, in order to work effectively in the economic sphere, it is necessary to bring people together," the Russian leader said.

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