BRICS Bank is de-dollarizing, promises loans in local currencies to help Global South develop

The new chief of the BRICS bloc’s New Development Bank, Brazil’s leftist ex-President Dilma Rousseff, revealed they are gradually moving away from the US dollar, promising at least 30% of loans in local currencies of members, to help countries in the Global South build infrastructure and fight poverty.

Sources and more information here: https://geopoliticaleconomy.com/2023/04/15/brics-bank-dollar-local-currencies-dilma

BRICS challenges US ‘dollar dominance’, Saudi considers selling oil in other currencies: New multipolar economic order: https://geopoliticaleconomy.com/2023/01/21/brics-us-dollar-saudi-oil-currency-multipolar

Brazil’s Lula travels to China and calls to end US dollar dominance: https://geopoliticaleconomy.com/2023/04/15/brazil-lula-china-us-dollar-dominance

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