Payments in BRICS national currencies will only rise after deep integration of financial systems / News / News agency Inforos
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Payments in BRICS national currencies will only rise after deep integration of financial systems

25.07.2018 15:55

Russia’s Economic Development Minister Maksim Oreshkin expects payments between BRICS countries in national currencies to grow only after a deep integration of financial systems, TASS reports.

"Obviously it is necessary to use the mechanisms created at the level of BRCIS, this being the BRICS Bank that finances projects, and the pool of reserve currencies that will be supporting mutual liquidity of national currencies, the establishment of a new Fund of bonds that will be supporting the development of bond markets in our countries. It is hardly possible to make a breakthrough here, only a gradual progress can help deeply integrate the financials systems, which will enable business to use national currencies," he said.

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