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.
Get a daily dose of Tucson 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 Tucson Post.
More InformationNEW YORK, New York - A better-than-expected jobs report boosted U.S. stock markets Friday. Total nonfarm payroll employment increased...
TOKYO, Japan: Toyota Motor is weighing a potential investment in a primary buyout of one of its key suppliers, Toyota Industries, the...
LONDON, U.K.: Britons' outlook on the economy has hit an all-time low, with public confidence plunging to its weakest point since records...
BEIJING, China: China's Huawei Technologies is stepping up efforts to challenge U.S. dominance in artificial intelligence hardware,...
NEW YORK, New York - U.S. stocks forged higher and the U.S. dollar regained ground Thursday as investors shrugged off concerns about...
NEW YORK CITY, New York: Colgate-Palmolive posted stronger-than-expected quarterly results and raised its annual sales outlook last...
WASHINGTON, D.C.: This week, U.S. Supreme Court justices seemed open to letting fuel companies challenge California's strict vehicle...
WASHINGTON, D.C.: The Trump administration announced this week that it will create a fast-track approval process for energy and mining...
Teresa Varley The Steelers signed receiver Robert Woods to a one-year contract. Woods, who will be entering his 13th season in...
This week, Bucs fans have questions about first-round reactions, spots on the depth chart that need attention, offensive goals under...
Stu Jackson The Rams' 2025 schedule will be revealed two weeks from today. Schedule release day is annually one of the most important...
Matt Citak Cam Skattebo among Field Yates' favorite draft picks The Giants receivedhigh marks for their 2025 Draft Class, which...