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Russian State Duma Deputy Chairman: BRICS SWIFT Counterpart Needed for Creating a New Economic Reality

2024-07-28 by admin Leave a Comment

Russian Duma Deputy Chairman: BRICS SWIFT Counterpart Needed for Creating a New Economic Reality

Alexander Babakov, Deputy Chairman of the Russian State Duma, highlighted the need to create a BRICS equivalent to the SWIFT messaging system, which routes payments alongside the current banking infrastructure. Babakov emphasized that this new system would help to reduce the dependence on Western institutions and simplify settlements outside the dollar-dominated system. BRICS SWIFT Equivalent […]

BRICS Is No Joke, Bloc Could Become G7 Counterpart, Experts Say

2023-08-14 by admin Leave a Comment

The BRICS challenge to the world’s established economic order is not a joke, according to experts in the field of international relations. Now that the bloc, which unites leading emerging markets, accounts for over a quarter of the global gross domestic product (GDP), it could become a counterpart of the G7 group of developed economies, […]