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Vice President of BRICS Alliance Encourages Trade in Local Currency
9 February 2024
EIRNS—Vice President for Africa of the BRICS International Strategic Project Alliance Ahoua Don Mello called for countries to carry out trade in local currencies, in an interview with Sputnik Africa: Countries “must equip themselves with means that can allow them to trade in local currency [without the use of the dollar], because all these [Western] financial institutions have become sticks in the hands of the West. Since the reserves are made in dollars or in euros, these are their conditions that are imposed to be able to do international trade.” Countries should “use the local currency payment mechanism” to strengthen multipolarity. As for developing a BRICS common currency, he said, “these countries would have no reason not to move towards their own monetary institution.” Based in Russia, the BRICS International Strategic Project Alliance (https://iabrics.org/main) is an autonomous non-profit organization founded in 2016 with the support of Russia’s foreign ministry. It has the goal of strengthening business, scientific, and cultural ties within BRICS, as well as improving global security. Melo said that the Alliance has been working with the Central African Republic, Burkina Faso, Equatorial Guinea, and Niger. He added that a representative of the BRICS Alliance has been appointed in Burkina Faso who will identify joint projects. In a working visit to the Central African Republic, BRICS international Alliance President Larisa Zelentsova said the alliance is ready to implement many projects for the country’s development, including the construction of the new airport, and others such as the project to launch a satellite. According to a memorandum of understanding signed by the delegation of the BRICS Alliance and C.A.R.’s Minister of Transport and Civil Aviation Herbert Djono-Haba, the U.A.E. will contribute $200 million for the airport project. [dea] |