Brazilian President Lula da Silva, along with his French counterpart Emmanuel Macron in Paris, once again criticized dollar trading and said that “new currencies need to be created.”
“New currencies need to be created so that people can trade,” said Luis Inacio Lula da Silva in his speech at the end of the Summit for a new global financial pact, an initiative being promoted by the French president.
“Why should Brazil and Argentina trade in dollars? This discussion is on my agenda, and if it depends on me, it will happen at the BRICS meeting and at the G20 meeting, which should have more African countries,” added Lula. from Silva.
BRICS is a bloc of countries formed by Brazil, Russia, India, China and South Africa, which will meet in August.
In April, Lula da Silva criticized the dominance of the US dollar as the world’s reserve currency in Shanghai and called for the use of other currencies in commercial relations between Brazil and China.
“Every day I wonder why countries are required to trade in dollars,” the Brazilian head of state said at the headquarters of the new development bank created by the BRICS.
“Who decided that the dollar was the reserve currency after gold disappeared as a currency?” he asked. “We need a currency that gives countries a little more peace of mind,” he added.
China has been trying to internationalize its currency, the yuan, since 2009, seeking to reduce its reliance on the dollar for trade and investment transactions and to challenge the US currency’s role as the world’s main reserve currency.
Author: Portuguese
Source: CM Jornal
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