“We expect development banks to receive clear instructions from management to more deeply deal with multilevel payments not only on the basis of their balance, but in multisided entities as well,” Sergey Storchak said
MOSCOW, August 22. /TASS/. All the conditions exist today to begin talking about the creation of a BRICS rating agency, VEB.RF senior banker Sergey Storchak said on the sidelines of the BRICS summit being held in South Africa.
“If our goal is to expand the use of national currencies, it is logical to create a BRICS rating agency that will issue ratings in local currencies,” he said.
The expansion of the interbank association, including through new development banks, stepping up work on multisided projects and initiatives (in the area of green and sustainable financing in particular), the joint implementation of transborder initiatives, including with the BRICS New Development Bank are promising areas for developing cooperation within the organization, Storchak said.
“We expect development banks to receive clear instructions from management to more deeply deal with multilevel payments not only on the basis of their balance, but in multisided entities as well. One promising aspect is to organize clearing in BRICS national currencies on the platform of the New Development Bank,” he noted.
Source: Tass
