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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    BRICS Summit Declaration: A Call to Reform the Global Financial System

    Rocky
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    BRICS Summit Declaration: A Call to Reform the Global Financial System Empty BRICS Summit Declaration: A Call to Reform the Global Financial System

    Post by Rocky Thu 24 Oct 2024, 5:14 am

    BRICS Summit Declaration: A Call to Reform the Global Financial System

    BRICS Summit Declaration: A Call to Reform the Global Financial System 53870
    brix



    Arabic and international
       


    Economy News - Follow-up
    The BRICS summit was held in the Russian city of Kazan on Wednesday, and the group's leaders called for a ceasefire in Gaza and made statements in favor of establishing a non-Western payment system.
    More than 20 leaders are attending the BRICS summit, including Chinese President Xi Jinping, Indian Prime Minister Narendra Modi, Russian Prime Minister Vladimir Putin, UAE President Sheikh Mohammed bin Zayed Al Nahyan, and Iranian President Masoud Pezeshkian.
    The BRICS group now represents 45 percent of the world's population and 35 percent of the global economy.
    Here are the highlights of the BRICS summit final declaration, according to Reuters:
    * Ukraine
    “We affirm that all States must fully comply with the purposes and principles enshrined in the Charter of the United Nations. We express our appreciation for the mediation initiatives and good efforts aimed at finding a peaceful settlement to the conflict through dialogue and diplomacy.”
    * The Middle East
    “We reiterate our grave concern over the deteriorating situation and the humanitarian crisis in the occupied Palestinian territories, particularly following the unprecedented escalation of hostilities in the Gaza Strip and the West Bank as a result of the Israeli military campaign, which has resulted in the killing and wounding of massive numbers of civilians, forced displacement and widespread destruction of civilian infrastructure.”
    “We express our deep concern about the situation in southern Lebanon. We condemn the killing of civilians and the extensive damage to essential infrastructure caused by Israeli attacks on residential areas in Lebanon, and demand an immediate cessation of military action.”
    * Western sanctions
    “We are deeply concerned about the negative impacts of illegal unilateral coercive measures, including illegal sanctions, on the global economy, international trade and the achievement of the Sustainable Development Goals.”
    * Reforming the international financial system
    “We stress the need to reform the existing international financial architecture in an effort to address global financial challenges, including global economic governance, to make the international financial architecture more inclusive and equitable.”
    * BRICS Grain Exchange
    “We welcome the Russian side’s initiative to create a BRICS grain trading platform with the possibility of later expanding it to include other agricultural sectors.”
    * BRICS Cross-Border Payment System
    “We recognize the wide-ranging advantages offered by cross-border payment methods that are fast, low-cost, efficient, transparent, secure and inclusive, based on the principle of reducing trade barriers and ensuring non-discriminatory access. We also welcome the use of local currencies in financial transactions between BRICS countries and their trading partners.”
    * Bricks Clear Settlements & Deposits
    “We agreed to discuss and study the feasibility of establishing an independent cross-border settlement and depository infrastructure known as BRICS Clear, an initiative that aims to complement the existing financial market infrastructure as well as provide independent reinsurance services in BRICS.
    UAE and Russia: A Model of Partnership and International Cooperation
    * Financial innovation
    “We welcome the focus of the BRICS interbank cooperation mechanism on facilitating and expanding innovative financing practices and approaches for projects and programmes, including finding acceptable mechanisms for financing in local currencies.”
    * International Monetary Fund
    “We reaffirm our commitment to maintaining a strong and effective global financial safety net, relying primarily on a quota-based and adequately funded IMF.”
    * G20
    “We recognize the importance of the continued work and effectiveness of the G20 by relying on consensus among its members and focusing on achieving tangible results.”
    * Preventing future epidemics
    “We support the initiatives of the BRICS Vaccine Research and Development Center and the further development of the BRICS Integrated Early Warning System to prevent the risks of the spread of infectious diseases.”


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    Added 10/23/2024 - 10:00 PM
    https://economy-news.net/content.php?id=49088
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