The BRICS Countries Are Setting Up a New Financial System, Says Maduro
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Maduro: BRICS countries are building a new financial system to bypass the dollar
– - The BRICS Countries Are Setting Up a New Financial System, Says Maduro
by The president of Venezuela, Nicolás Maduro, has assured that the BRICS countries (Brazil, Russia, India, China and South Africa) are building an architecture of financial and political cooperation, as he declared during a farewell ceremony for the ambassadors of Nicaragua and South Africa in Caracas held this Wednesday at the Miraflores Palace.
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“The BRICS, the five emerging countries, began to build an architecture of financial, economic, commercial, political cooperation, and aims to be one of the main protagonists of the world that is being born,” said the president.
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In this sense, he pointed out that the economic-commercial association has been carrying out “initiatives for the configuration of a new financial and monetary system”, a new financial system that opens the doors to all the countries of the world and that “does not use the international banking as a political instrument to attack or attack countries”.
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Alternative to SWIFT
Maduro also proposed creating a new international payment system different from SWIFT and one that is not used for “blackmail”, recalling that his country was excluded from said system and exchange in dollars was prohibited for ideological and political reasons.
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