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

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.

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

"Administrative lapse, callousness": BJD's Mohanty demands resignation of Odisha Law Minister over Puri stampede

Bhubaneswar (Odisha) [India], July 1 (ANI): Biiju Janata Dal (BJD) leader Lenin Mohanty on Monday lashed out at the 'administrative...

Terrorism anywhere is threat to peace everywhere, says EAM at inauguration of 'The Human Cost of Terrorism' exhibition

New York [US], July 1 (ANI): External Affairs Minister S Jaishankar on Monday inaugurated an exhibition at the United Nations on 'The...

"BJP never does politics on such issues, will fully cooperate in relief activities": G Kishan Reddy on Telangana chemical factory blast

Hyderabad (Telangana) [India], June 30 (ANI): Union Minister and Telangana BJP chief G Kishan Reddy on Monday offered full support...

Amit Shah condoles loss of lives in Telangana chemical factory blast

New Delhi [India], June 30 (ANI): Union Home Minister Amit Shah on Monday expressed sadness over the blast at a chemical factory in...

Mizoram CM attends Drug Disposal Programme in Aizawl, stresses importance of building robust support systems

Aizawl (Mizoram) [India], June 30 (ANI): The Central Young Mizo Association and Central Anti-Drugs Squad (CADS) on Monday organised...

From Zaheer to Zeeshan: Adeeba Baloch's family destroyed by state violence as Sammi Deen calls Pakistan a rogue regime

Balochistan [Pakistan], June 30 (ANI): Adeeba Baloch, daughter of forcibly disappeared Baloch activist Zaheer Baloch, staged a late-night...

International

Section