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BRICS financial cooperation issues require expert study — Russian Foreign Ministry

Maria Zakharova underlines that the BRICS countries' priorities include "strengthening the potential of the New Development Bank, the pool of Contingent Reserves"

MOSCOW, August 21. /TASS/. Creation of payment instruments resistant to external risks and strengthening the role of national currencies in mutual transactions in the BRICS (Brazil, Russia, India, China, South Africa) require detailed expert study.

This is according to a response by Russian Foreign Ministry Spokeswoman Maria Zakharova to a media request, published on the website of the Russian Foreign Ministry.

"The agenda of the upcoming summit [of BRICS in Johannesburg] implies discussion of issues related to creating payment instruments resistant to external risks and strengthening the role of national currencies in mutual transactions," the diplomat said.

"However, these topics require detailed expert study. Moreover, it must be taken into account that all decisions in the association are made solely on the basis of the principle of consensus," she added.

According to the diplomat, the countries of the association pay serious attention to the development of financial cooperation, and their priorities include "strengthening the potential of the New Development Bank, the pool of Contingent Reserves."

Zakharova also noted that de-dollarization has recently become an objective global trend, "which is explained by the growing distrust of the financial mechanisms created by Western countries." "In this regard, not only the BRICS members, but also a number of other states are striving to reduce their dependence on the US dollar, are thinking about finding alternative currencies to the American one," the diplomat said.

The BRICS summit will take place on August 22-24 in Johannesburg and will be chaired by South Africa.

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Foreign policy Russian Foreign Ministry Maria Zakharova BRICS summit

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