India Is Mulling Rupee-Ruble Payments System
Gesara.news » News » India Is Mulling Rupee-Ruble Payments SystemNews Date: March 12, 2022
India is discussing how to set up a rupee-ruble payment mechanism to enable it to trade with Russia, to circumvent the U.S. sanctions regime.
During the last several months, several considerations have prompted the Modi government to rethink the wisdom of putting all its eggs in the U.S. basket.
Instead, India is returning to a more balanced approach, assessing its national interests vis-a-vis those of other countries and acting accordingly.
To Be Non-Aligned on Russia Policy Implies India Finding Trade Workaround.
The meeting could mark the next phase in the global debt-relief drive-by bolstering coordination between government creditors over how to restructure the debts of poor economies hit hard by the coronavirus pandemic.
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Scientists have invented a 3D printer that uses light to transform gloopy liquids into solid objects.
Nicknamed the replicator after the Star Trek machine that makes things on demand, the device can create objects that are smoother and more complex than those made with standard 3D printers.
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The SDR is an international reserve asset created by the IMF to supplement the official reserves of its member countries.
The SDR is not a currency. It is a potential claim on the freely usable currencies of IMF members. As such, SDRs can provide a country with liquidity.
A SDR is not a loan & is cost-free for all IMF members. Unlike an extended fund facility, the government does not have to request any arrangement & there is no repayment involved. All member countries can use their allocated SDRs unconditionally.
IMF urges wealthy nations to direct $650 billion SDR share to vulnerable countries.
Zimbabwe to use more than half of IMF funds to prop up the currency.
Sources: twitter.com, www.today.ng