Russia sanctions threaten to chip away at dollar dominance: IMF Aljazeera Live Updates 2022-03-31 05:54 GMT
Financial sanctions imposed on Russia threaten to gradually dilute the dominance of the US dollar and could result in a more fragmented international monetary system, a top official at the International Monetary Fund has said.
“The dollar would remain the major global currency even in that landscape, but fragmentation at a smaller level is certainly quite possible,” Gita Gopinath, IMF’s first deputy managing director, told the Financial Times, adding that some countries are already renegotiating the currency in which they get paid for trade.
She said the war will also spur the adoption of digital finance, from cryptocurrencies to stablecoins and central bank digital currencies.
Russia sanctions threaten to chip away at dollar dominance: IMF
Aljazeera Live Updates 2022-03-31 05:54 GMT
Financial sanctions imposed on Russia threaten to gradually dilute the dominance of the US dollar and could result in a more fragmented international monetary system, a top official at the International Monetary Fund has said.
“The dollar would remain the major global currency even in that landscape, but fragmentation at a smaller level is certainly quite possible,” Gita Gopinath, IMF’s first deputy managing director, told the Financial Times, adding that some countries are already renegotiating the currency in which they get paid for trade.
She said the war will also spur the adoption of digital finance, from cryptocurrencies to stablecoins and central bank digital currencies.
https://www.ft.com/content/3e0760d4-8127-41db-9546-e62b6f8f5773
//
#ekonomia #chiny #rosja #ukraina #usa #drl #lrl #geopolityka #historia #wojna #wojsko #pieniadze