Moscow, Oct 28 (RIA Novosti/GNA) – Russia and African countries need to build a system of settlements in national currencies, Russian President Vladimir Putin said on Wednesday.
“It is important to continue working on building stable channels of mutual settlements in national currencies, expand the network of correspondent relations between Russian and African banks, facilitate the mutual opening of their branches and switch to alternative payment information transmission mechanisms, including using the Bank of Russia’s financial messaging system and the pan-African payment system operating in Africa and the African Union,” Putin said at the plenary session of the Russia-Africa economic and Humanitarian forum.
African countries remain dependent on Western financial systems, which limits their sovereignty, Putin added.
The third Russia-Africa Economic and Humanitarian Forum and Summit will be held in Moscow on October 28-29. RIA Novosti is an information partner of the summit and the forum.
GNA/RIA Novosti