News Formal

BRICS payment system would not replace SWIFT -S.Africa finance minister

  • 📰 SaltWire Network
  • ⏱ Reading Time:
  • 10 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 7%
  • Publisher: 63%

Business News News

Business Business Latest News,Business Business Headlines

JOHANNESBURG (Reuters) - South Africa's finance minister said on Thursday that the BRICS grouping would not be looking to replace international payment ...

STORY CONTINUES BELOW THESE SALTWIRE VIDEOSJOHANNESBURG - South Africa's finance minister said on Thursday that the BRICS grouping would not be looking to replace international payment systems including SWIFT, but rather consider creating one that would strengthen trade in local currencies.

De-dollarisation is a particular priority for Russia, whose economy has been crippled by sanctions imposed by the West over its invasion of Ukraine and is banned from SWIFT.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 45. in BUSİNESS
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

BRICS Bank Struggles to Find South Africa Projects to FinanceThe New Development Bank, a financial institution created by the BRICS bloc, is struggling to find viable projects to fund as part of its $3 billion pledge for South Africa’s Just Energy Transition initiative.
Source: BNNBloomberg - 🏆 83. / 50 Read more »