Tag Archives | New Development Bank (NDB)

BRICS New Development Bank de-dollarizing, adding Argentina, Saudi Arabia, Zimbabwe as members

Originally published: Geopolitical Economy Report on June 6, 2023 (more by Geopolitical Economy Report) |

The BRICS bloc’s New Development Bank, an alternative to the U.S.-dominated World Bank, is de-dollarizing its loans, promoting local currencies, and adding new members: Argentina, Saudi Arabia, and Zimbabwe.
BRICS Bank de-dollarizing, promises 30% of loans in local currencies, new chief Dilma Rousseff says

Originally published: Geopolitical Economy Report on April 15, 2023 (more by Geopolitical Economy Report) |

The new chief of the BRICS bloc’s New Development Bank, Brazil’s leftist ex-President Dilma Rousseff, revealed they are gradually moving away from the U.S. dollar, promising at least 30% of loans in local currencies of members.