Brazil is not against dedollarization of the global financial system and trade, but this process should take place gradually, through a “safe action”, said Minister of Foreign Affairs of Brazil Celso Amorim.
“I do not know whether the world is ready to say “let’s replace the dollar with special drawing rights (SDR) or something similar”, but why should not we go in the direction of this?” – S. Amorim told reporters at the UN headquarters.
According to the Brazilian minister, the rapid abandonment of the dollar as the world main reserve currency would be terribly wrong as the leading developing countries keep their international reserves in dollars, transmits Reuters.
Earlier, China and Russia advocated the development of a new, more equitable and balanced international monetary system, in which national reserve currencies could take the place of the dollar.
However, economists note that in the foreseeable future, the dollar is unlikely to be removed from its dominant position in international finance.