Venezuelan President NicolĂĄs Maduro speaks at the BRICS Summit in Kazan, Russia, October 24, 2024.
The president of Venezuela, NicolĂĄs Maduro, stated during his speech at the plenary session of the BRICS Summit in Kazan, Russia, that it is essential to create a new global monetary and economic system with practical solutions for international trade.
The Venezuelan head of state said that the BRICS has “put forward new paradigms on the global agenda.”
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During his speech on Thursday, October 24, he expressed the need “for a new economic agenda with practical solutions for international trade and monetary exchange issues. A new global monetary system is a necessity.”
“It is not just about making small reforms to the monetary system, the financial system, which sometimes seems unable to withstand reforms,” said the Venezuelan president, highlighting that the Western colonial countries would like to “re-impose their hegemony through the mechanisms of the hegemonic currency of the financial system, credits, the imposition of economic packages, and economic conditions.”
President Maduro also advocated for adopting bolder steps towards the strengthening of BRICS’ New Development Bank, emphasizing that it is “a necessity for the peoples of the Global South for their development, to access investments and a new payment system that would replace the current one that is sometimes turned into weapons to attack sovereign states.”
In this regard, he stated that Venezuela was removed from the global payment systems as part of the US-led economic aggression against the country to bring about a “regime change.”
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Similarly, he proposed that the new system should have a basket of currencies that combines “the strong currencies of the superpowers with the right for each of our countries to have its own currency.”
The Venezuelan president called for practical solutions to the problems of developing an inclusive global economy for independent countries that aspire to social happiness and dignity.
He highlighted that BRICS emerged at a time of epochal change, with the emergence of new superpowers.
He also specified that Latin American and Caribbean nations demand respect for their right to independence and development.
(Ăltimas Noticias) by MarĂa EugenĂa RodrĂguez
Translation: Orinoco Tribune
OT/SC/DZ
