Decentralized int'l financial system beneficial for global economy: Putin

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.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Afghanistan Sun.

More Information

null in null

International

Section

Myanmar's civilian population reeling under end to USAID

Myanmar plagued by civil war, earthquake, loss of USAID

For decades, the US Agency for International Development (USAID) has been vital in combating HIV across the Asia–Pacific region, where...

Citadel CEO to loan rare US documents for public exhibit

Citadel CEO honors Constitution ahead of America's 250th anniversary

MIAMI, Florida: Ken Griffin, the CEO of Citadel and a billionaire investor announced this week he would loan his rare first-edition...

Israel steps up attacks on Gazans

Israeli military escalates hostilities in Gaza

GAZA - Israel Air Force pilots have heavily bombarded Gaza this week, killing hundreds and severely wounding hundreds more. The...

Boeing clinches record jet deal with Qatar Airways during Trump visit

Qatar signs deal to buy 160 Boeing jets during Trump visit

DOHA, Qatar: Boeing secured its largest widebody aircraft deal this week, as Qatar Airways placed firm orders for 160 jets with options...

Goldman Sachs fined $1.45 million for trade reporting failures

Goldman Sachs fined for failing to properly report billions of trades

NEW YORK CITY, New York: Goldman Sachs has agreed to pay a US$1.45 million civil penalty to resolve allegations from the Financial...

Firefighters’ union demands probe into soaring fire truck costs

As fire truck prices hit $2 million, US firefighters demand probe

WASHINGTON, D.C.: The largest firefighters' union in the United States is calling for federal antitrust authorities to investigate...

Central Asia

Section

Fruit traders, buyers boycott Turkish fruits in Haridwar

Haridwar (Uttarakhand) [India], May 18 (ANI): In wake of Turkey's support for Pakistan during the recent military conflict with India,...

Pakistan, Afghanistan to hold trilateral talks with China amid regional tensions

Islamabad [Pakistan], May 18 (ANI): Pakistan's Deputy Prime Minister and Foreign Minister Ishaq Dar will travel to Beijing on Monday...

CHINA-BEIJING-INT'L MUSEUM DAY-MAIN VENUE IN CHINA-OPENING (CN)

(250518) -- BEIJING, May 18, 2025 (Xinhua) -- Visitors view exhibits at the exhibition The Exhibition Series on the Origins of Chinese...

Fruit traders in Prayagraj decided to boycott Turkish apples

Prayagraj (Uttar Pradesh) [India], May 18 (ANI): Fruit traders based in Prayagraj have collectively decided to boycott Turkish apples,...

"There's anger against terrorism": Union Minister Bhagirath Choudhary amid calls for boycott of trade relations with Turkey, Azerbaijan

Ajmer (Rajasthan) [India], May 18 (ANI): Amid calls for boycott of trade relations with Turkey and Azerbaijan for supporting Pakistan...

"The vision is a fitter Bharat": Tania Sachdev joins 'Fit India Sundays on Cycle' marathon at Major Dhyan Chand Stadium

New Delhi [India], May 18 (ANI): The iconic Major Dhyan Chand National Stadium witnessed a vibrant morning of fitness and enthusiasm...