Egypt has announced to abandon the US dollar for trade payments, in line with the BRICS policy of de-dollarization.
Emese Grancsa
International
Photo by Tienko Dima on Unsplash
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Egypt's decision to abandon the US dollar for trade payments comes amid tensions in the Middle East. The move is seen as a signal to countries in the region that have expressed a desire to become BRICS members. By adhering to the policy of de-dollarization, BRICS member states hope to reduce their dependence on the pressures of being part of the "USD space".
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