BRICS countries will discuss the idea of ​​creating a common currency

Russian Foreign Minister Sergei Lavrov stressed that many countries “see the intractability of the owners of the current monetary system” and want to create mechanisms to guarantee development “free from foreign dictates.”

At the BRICS summit, to be held in South Africa in August, the idea of ​​creating a common currency will be discussed, Russian Foreign Minister Sergei Lavrov said on Wednesday, quoted by RIA Novosti.

Lavrov stressed that “countries that respect themselves understand well what is at stake, see the intractability of the owners of the current international monetary and financial system and want to create mechanisms to guarantee sustainable development, free from external dictates.”

He also said that “in this direction are the initiatives expressed recently, a few days ago, of the need to think about the establishment of their own currencies within the framework of the BRICS, within the framework of the Community of Latin American and Caribbean States.”

This Monday, the Brazilian president, Luiz Inacio Lula da Silva, described as “necessary” to create a common currency in the South American region, to stop depending on the dollar. There, he wondered: “Why not try to create a common currency in the Mercosur countries [Mercado Comun del Sur]as was attempted in the BRICS countries [Brasil, Rusia, India, China y Sudafrica]?”.