Brazil President Lula to BRICS nations

News Snapshot:

Beijing: Brazilian President Luiz Inacio Lula da Silva has called for the BRICS nations to give up US dollar and come up with their own alternative currency to settle cross-border trade. During his first state visit to China since taking office in January, Lula also lashed out the International Monetary Fund (IMF) and criticised the outsize role of the greenback in global trade. His comments came mere days after the Brazilian government ditched dollar as an intermediary and announced a deal to trade in local currency with China. Lula voices for de-dollarization Lending his voice to China’s efforts to shed...