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.
Get a daily dose of San Antonio Post news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to San Antonio Post.
More InformationISLAMABAD, Pakistan - The government has warned all information technology (I.T.) and financial institutions, including regulators, to avoid using "Indian ...
WASHINGTON D.C.: This week, NASA's Administrator Bill Nelson announced the appointment of the new research chief without disclosing the person's ...
(Photo credit: Jerome Miron-USA TODAY Sports) The Texas Rangers delivered the opening salvo of their pivotal series with the Seattle ...
(Photo credit: Troy Taormina-USA TODAY Sports) With their 12-2 victory over the San Diego Padres on Sept. 10, the Houston ...
(Photo credit: Amber Searls-USA TODAY Sports) Ronald Acuna Jr. and Austin Riley homered in the first inning, and the Atlanta ...
(Photo credit: Troy Taormina-USA TODAY Sports) Cole Ragans produced his seventh quality start since being acquired by the Kansas City ...
JAKARTA, Indonesia: An Indonesian court sentenced Lina Lutfiawati, also known as Lina Mukherjee, to two years in prison this week ...
HONG KONG: The Chinese Foreign Ministry has issued a request to all foreign consulates in Hong Kong, seeking the personal ...
MARTIN COUNTY, Florida: An Amazon driver making a delivery to a Florida home this week was bitten by a rattlesnake ...
CALGARY, Canada: From early 2024, the long-delayed and controversial Canadian government-owned Trans Mountain oil pipeline expansion (TMX) is expected to ...
ISLAMABAD, Pakistan: Pakistan's Supreme Court proceedings were broadcast live on state television on Monday, providing an unprecedented glimpse into the ...
MORGANTOWN, Pennsylvania: Pennsylvania state police said that nine teenage boys who escaped from the Abraxas Academy detention center this week ...