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BRICS New Development Bank Prepares to Release Bonds in Local Currencies

Sunday, 14 January 2024,

BRICS bank to release bonds in local currencies

TEHRAN, Jan. 14 (MNA) – BRICS, a bloc of leading emerging markets, is preparing to launch new bonds in global markets, which will be available in local currencies rather than in the US dollar.

The BRICS bank, known as the New Development Bank (NDB), will soon release the bonds called ‘Maharaja Bonds’ worth $28 billion, IRNA reported on Sunday citing a press release by Watcher Guru, a website introducing itself as a leading source for finance focusing on cryptocurrency.

Watcher Guru did not specify the exact date the bonds will be released but said that NDB Chief Operating Officer Vladimir Kazbekov has announced that the bank is waiting for approvals from regulatory authorities.

The new bonds, according to the website, will be made available for governments, financial institutions, and regular investors.

They will be available for purchase in local currencies in an effort to strengthen them and to help boost their respective economies.

The plan to release the bonds is part of BRICS’s initiatives for de-dollarization as the alliance is moving ahead to reduce dependency on the American currency in an effort to reform the global economy.

BRICS is comprised of Brazil, China, Russia, India, and South Africa as well as six new members namely Iran, Saudi Arabia, the UAE, Egypt, Argentina, and Ethiopia.

BRICS leaders, at their latest summit in late 2023, pledged to promote the use of local currencies as a way to ditch the US dollar, as they unanimously rejected exploiting the global economy for political purposes.

Source: Mehr News Agency

https://dinarchronicles.com/2024/01/14/brics-new-development-bank-prepares-to-release-bonds-in-local-currencies/

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Courtesy of Dinar Guru:  https://www.dinarguru.com/

Frank26  I don’t think they’re waiting for much of anything right now.  They’re moving fast.  They’re moving quickly in every aspect of the monetary reform.  The next step is to show the lower denoms…new exchange rate and to allow it to float on an international platform…These are not subjects we are proposing to you, these are subjects that are in the articles themselves…  

Militia Man   There’s some very significant, big, big players exposed to this.  We all know JP Morgan, CitiBank and others are 100% involved…See the picture of the Vice President of JP Morgan Chase doing deals with Iraq…You walk into the bank at Chase and your average guy doesn’t know what we know because what we know is we study and we have the data to support and the articles that are public that present that information.

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TNT:

Tishwash:  American politicians: The United States may seize Iraq’s funds if it withdraws its forces

A report by the American Century Institute website confirmed that although the numbers have decreased significantly from a peak of about 130,000 soldiers during the American invasion of Iraq in 2003, there are still about 2,500 American soldiers stationed in Iraq and they are mostly there as part of the coalition. The international presence under the pretext of fighting ISIS. 

 The report, translated by the “Al-Ma’louma” Agency, stated that “demands to remove American forces from Iraq escalated after the assassination of General Qassem Soleimani and the Deputy Head of the Popular Mobilization Forces, Abu Mahdi Al-Muhandis, near Baghdad Airport, and the demands increased due to the American position in the war in Gaza and the United States’ support for the Israeli aggression.” On the Palestinian people.” 

Political analyst Sajjad Jiyad said, “If we are really honest, the discussion about the American presence has moved from the anti-ISIS mission,” adding, “Iraq does not need the same amount of support that it needed in the past, and the Iraqis have sufficient capabilities to prevent ISIS from relaunching.” A widespread insurgency, but the United States sees Iraq as a place from which it can confront so-called Iranian influence, and its bases in the country serve American strategic purposes.” 

The report stated, “The United States made clear that it wanted to remain in Iraq, while Jiyad explained that if they were to leave permanently, or if they were forced to leave, the Americans indicated that this might change things for the worse.”

Jiyad stated, “Forcing American forces to leave may cause problems, including the threat of sanctions, the possibility of detaining billions of Iraqi foreign reserves currently in the United States, and stopping military cooperation in the field of armaments.”

Jiyad concluded his speech by saying, “I think that the Iraqi government is in a very difficult situation at the present time and may want to negotiate a way out of this situation because it depends only on the seriousness of the events on the ground.”  link

Good news

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