Category: Economy

BRICS Birth of new monetary system What happened in last 10 years is that BRICS countries have prepared to make a new step in monetary system. The sanctions against Russia speed it up and now US dollar is facing devastated blow as a world reserve currency. As the US weaponized the global monetary system against Russia and China and other BRCIS nation. The BRICS nation turned against US dollar and now they have announced a new monetary system that will unfold to the end of this month. This birth of new monetary system is still unclear how it will work but by the look the dollarization of BRICS nation shows that they have complete trust in there new system. BRICS currency is something that many investors and people are look…

Europeans are becoming poorer and the way it looks this is not the end of inflation spiking. The causes of inflation are high prices of energy and food. The politics and the energy shortages will make inflation bigger in next three mounts. Winter is coming and shortages of gas will make many houses to freeze, and many companies to close their business. The question is how long inflation will last. The European commission said that inflation would likely come down in 2024. Regarding the information we have it will last up to 2025. Why is EU facing high inflation? The war in Ukraine and sanctions against Russia will make it harder to recover from inflation in next two years. The EU lost cheap gas and oil from Russia and one…

As we all witness the new economic crises in the world and wars between Russia and Ukraine that had an impact of world economy. Africa is trying to use their local currency to trade between countries. There has been a big conversion in trade because African countries have use US dollar to trade. Wamkele Mene, secretary general of the AfCFTA Secretariat say that we wane expand the trades to other countries and help local economies in African continent. The currency conversion in US dollars was more than 4.5 billion annually. Moving away from the US dollar is a big step in making local economies stronger and more efficient in trade. William Ruto the president of Kenya announces the „pan African payment settlement system PAPSS “. The PAPSS payment method across…