Raman Halouchanka, Chairman of the Board of the National Bank of Belarus, stated that serious changes await the global financial system. He expressed this opinion after Lukashenka's report on the National Bank's activities in the context of the country's economic development, writes BelTA.
The BRICS currency project, presented at the organization's summit in Kazan, Russia, in October 2024.
Halouchanka noted that today, allegedly, there are problems worldwide with traditional finance and processing payments. In particular, more and more countries are refusing to use the American dollar as an international means of settlement. He emphasized that these are long-term trends that will have to be lived and worked with for many years.
In this regard, many leaders of BRICS countries, as Halouchanka noted, are discussing the creation of their own currency for internal settlements within the association. Similar ideas are being considered by other blocs and unions, which indicates a defragmentation of the global financial market. Halouchanka predicts that there will be many more "interesting events" in this area.
As for Belarus, the head of the National Bank noted that a significant part of foreign trade settlements are conducted in the currencies of allied countries — Belarusian and Russian rubles, EAEU currencies, Chinese yuan. He emphasized that the country's portfolio of foreign currency assets is highly diversified, and the financial system is ready to support exporters.
The biggest proponent of the idea of creating a common BRICS currency is Russia, which found itself under strong international sanctions after the start of the full-scale war against Ukraine. Russian President Vladimir Putin has repeatedly spoken positively about the possibility of creating a common BRICS currency and a new system of international settlements, alternative to SWIFT, "for the effective fight against the dollar and better avoidance of financial restrictions from the West."
At the organization's summit, which took place in late October 2024 in Kazan, Putin noted that Russia "is forced to seek an alternative to the dollar, as the West itself limits its use for Moscow." At this summit, a prototype banknote for this currency was also presented, which, however, outwardly looked very "crude".
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