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Dilma Rousseff

Trump Threatens To Punish De-Dollarization

September 14, 2024 Ben Norton, Geopolitical Economy. , , , , , , , , , , ,
Countries across the planet are seeking alternatives to the US-dominated financial system. However, former President Donald Trump has pledged that, if he returns to the White House, he will punish nations that de-dollarize. “We will keep the US dollar as the world’s reserve currency”, Trump promised at a campaign rally in Mosinee, Wisconsin on September 7, 2024. “It is currently under major siege. Many countries are leaving the dollar”, the Republican presidential candidate lamented. “They’re not going to leave the dollar with me”, Trump insisted. “I’ll say, ‘You leave the dollar, you’re not doing business with the United States, because we’re going to put 100% tariff on your goods'”.

Brics Bank De-Dollarizing, New Chief Dilma Rousseff Says

April 16, 2023 Ben Norton, Geopolitical Economy. , , , , ,
The new president of the BRICS Bank has revealed that the Global South-led bloc is advancing toward de-dollarization, gradually moving away from use of the US dollar. The New Development Bank plans to give nearly one-third (30%) of its loans in the local currencies of the financial institution’s members. Dilma Rousseff, the left-wing former president of Brazil, took over the leadership of the Shanghai, China-based New Development Bank (NDB) this March. The NDB was created in 2014, by the BRICS bloc of Brazil, Russia, India, China, and South Africa, as a Global South-oriented alternative to the US-dominated World Bank, which is infamous for imposing neoliberal economic reforms on impoverished countries, which hinder their development.

World Bank, Brics Bank; New Leaders And Different Outlooks

April 11, 2023 Vijay Prashad, Asia Times. , , ,
In late February, US President Joe Biden announced that the United States had placed the nomination of Ajay Banga to be the next head of the World Bank, established in 1944. There will be no other official candidates for this job since, by convention, the US nominee is automatically selected for the post. This has been the case for the 13 previous presidents of the World Bank; the one exception was acting president Kristalina Georgieva of Bulgaria, who held the post for two months in 2019. In the official history of the International Monetary Fund (IMF), J Keith Horsefield wrote that US authorities “considered that the Bank would have to be headed by a US citizen in order to win the confidence of the banking community, and that it would be impracticable to appoint US citizens to head both the Bank and the Fund.”
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