SCO & BRICS latest news and insights
In February 2024, the ruble became the leading currency in foreign trade settlements of the Russian Federation, with a share of 41.6% in payments for exports and 38.1% for imports. This article explores the advantages of paying in rubles for Russia and its trading partners, as well as the industries...
The Reserve Bank of India (RBI) has kept its key interest rate unchanged for the seventh consecutive meeting as inflation remains within the target range. The repo rate remains at 6.5% per annum, as predicted by most analysts and economists.
Consumer prices in India rose by 5.1% in February, which...
During the international forum 'China's Development' at the Diaoyutai State Residence from March 25 to 27, Prime Minister of the People's Republic of China, Li Qiang, discussed the forthcoming changes to the rules governing access to the Chinese market and cross-border data flows.
The head of the P...
By Timofei Bordachev
Discussions about what BRICS can actually do and what it can’t should begin with an understanding of how much the achievements or failures of other international institutions are related to their individual characteristics. The second may be a theoretical task, but it makes cl...
On March 5, the Russian Presidential Assistant Yuri Ushakov announced that the BRICS member states plan to establish a payment system based on modern technologies such as digital currencies and blockchain.
The goal is to create an independent settlement payment system within the BRICS framework.
...
By Rhod Mackenzie
During the meeting of the finance ministries and central bank governors of the BRICS countries in Sao Paulo,the Russian Finance Minister Anton Siluanov stated that Russia is prepared to assist the bloc countries in creating their own payment system. This system will be based on...
