Decentralized int'l financial system beneficial for global economy: Putin

Xinhua
25 May 2023, 06:18 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.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Mexico Star.

More Information

null in null

Lifestyle

Section

Ireland prepares laws to end e-cigarette, vaping sales to teens

DUBLIN, Ireland: The Government of Ireland is preparing legislation to outlaw vaping, and the sale of vaping products, to those ...

BRICS nations should approach key contemporary issues constructively, collectively: EAM Jaishankar

Cape Town [South Africa], June 1 (ANI): External Affairs Minister (EAM) S Jaishankar on Thursday said that the BRICS nations ...

Assam: Mega public rallies in 14 Lok Sabha constituencies to mark Modi govt completing 9 years

Guwahati (Assam) [India], June 1 (ANI):To mark the completion of 9 years of the Modi government and to make preparations ...

Abrogation of Article 370 helped in making Srinagar's G20 meet a big success

By Dr Amjad Ayub MirzaSrinagar (Jammu and Kashmir) [India], June 1 (ANI): The three-day session of the G-20 Tourism Working ...

Mahua Acharya joins C-Quest Capital as Chief of Staff, Bringing Decades of Experience in Energy Transition and Carbon Markets

NewsVoirNew Delhi [India], June 1: C-Quest Capital (CQC), a world-leading carbon finance business dedicated to catalysing an energy transition across ...