Xinhua
25 May 2023, 01:48 GMT+10
MOSCOW, May 24 (Xinhua) -- A shift towards a decentralized international financial system will be beneficial for the global economy, Russian President Vladimir Putin said on Wednesday.
Speaking at the plenary session of the second Eurasian Economic Forum in Moscow, Putin said that many rapidly developing economies are currently shifting towards the use of national currencies in international settlements.
"It is important to coordinate joint efforts to create ... a new, decentralized global financial system," he said, adding that this switch would be beneficial for the global economy, and would bring stability.
A more decentralized financial system would make the world economy "less dependent on crisis phenomena" in countries that hold global reserve currencies, and would make payments more secure, said the president.
Putin said the world was undergoing "fundamental changes," terming the theme of this year's forum, "Eurasian integration in a multipolar world," very relevant.
Many countries are currently working on strengthening their national sovereignty, pursuing independent domestic and foreign policies, and stand in favor of building a new, more just global system of economic relations, he said.
The second Eurasian Economic Forum is held in Moscow on Wednesday and Thursday.
Get a daily dose of Baton Rouge Post news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Baton Rouge Post.
More InformationBASTROP, Texas: In a surprising turn at Elon Musk's X platform, CEO Linda Yaccarino announced she is stepping down, just months after...
NEW YORK CITY, New York: Former British prime minister Rishi Sunak will return to Goldman Sachs in an advisory role, the Wall Street...
LONDON, U.K.: Physically backed gold exchange-traded funds recorded their most significant semi-annual inflow since the first half...
AMSTERDAM, Netherlands: Some 32 percent of global semiconductor production could face climate change-related copper supply disruptions...
NEW YORK, New York - U.S. stocks rebounded Tuesday with all the major indices gaining ground. Markets in the UK, Europe and Canada...
NEW YORK CITY, New York: Financial markets kicked off the week on a cautious note as President Donald Trump rolled out a fresh round...
Kabul [Afghanistan], July 11 (ANI): Japan has provided USD 5 million through UNICEF to bolster polio eradication efforts and strengthen...
Brussels [Belgium], July 11 (ANI/WAM): EU Ministers of Foreign Affairs will hold a meeting next Monday in Brussels, to be chaired by...
Ranchi (Jharkhand) [India] July 11 (ANI): The Indian Coast Guard has launched a nationwide awareness campaign from July 14 to July...
Tehran [Iran], July 11 (ANI): Foreign Minister Abbas Araqchi has emphasised that Iran is open to resuming negotiations with the United...
Warsaw [Poland], July 11 (ANI): Polish President Andrzej Duda has warned that Poland may shut down its critical logistics hub for NATO...
The regions economic competitiveness is dwindling, Jamie Dimon has warned Western Europe is losing the economic competition with...