{"id":26248,"date":"2024-01-21T21:14:00","date_gmt":"2024-01-21T21:14:00","guid":{"rendered":"https:\/\/www.africa-press.net\/eritrea\/all-news\/brics-bank-to-release-bonds-in-local-currencies"},"modified":"2024-01-21T22:22:18","modified_gmt":"2024-01-21T22:22:18","slug":"brics-bank-to-release-bonds-in-local-currencies","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/eritrea\/all-news\/brics-bank-to-release-bonds-in-local-currencies","title":{"rendered":"BRICS bank to release bonds in local currencies"},"content":{"rendered":"

Africa-Press – Eritrea. <\/strong><\/span>BRICS, a bloc of leading emerging markets, is preparing to launch new bonds in global markets, which will be available in local currencies rather than in the US dollar.<\/p>\n

The BRICS bank, known as the New Development Bank (NDB), will soon release the bonds called \u2018Maharaja Bonds\u2019 worth $28 billion, IRNA reported on Sunday citing a press release by Watcher Guru, a website introducing itself as a leading source for finance focusing on cryptocurrency.<\/p>\n

Watcher Guru did not specify the exact date the bonds will be released but said that NDB Chief Operating Officer Vladimir Kazbekov has announced that the bank is waiting for approvals from regulatory authorities.<\/p>\n

The new bonds, according to the website, will be made available for governments, financial institutions, and regular investors.<\/p>\n

They will be available for purchase in local currencies in an effort to strengthen them and to help boost their respective economies.<\/p>\n

The plan to release the bonds is part of BRICS\u2019s initiatives for de-dollarization as the alliance is moving ahead to reduce dependency on the American currency in an effort to reform the global economy.<\/p>\n

BRICS is comprised of Brazil, China, Russia, India, and South Africa as well as six new members namely Iran, Saudi Arabia, the UAE, Egypt, Argentina, and Ethiopia.<\/p>\n

BRICS leaders, at their latest summit in late 2023, pledged to promote the use of local currencies as a way to ditch the US dollar, as they unanimously rejected exploiting the global economy for political purposes.<\/p>\n

NEWSROOM<\/b><\/p>\n

For More News And Analysis About Eritrea<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Eritrea. BRICS, a bloc of leading emerging markets, is preparing to launch new bonds in global markets, which will be available in local currencies rather than in the US dollar. The BRICS bank, known as the New Development Bank (NDB), will soon release the bonds called \u2018Maharaja Bonds\u2019 worth $28 billion, IRNA reported […]<\/p>\n","protected":false},"author":84,"featured_media":26247,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[242,243,233],"class_list":["post-26248","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-eritrea","tag-eritrea"],"yoast_head":"\nBRICS bank to release bonds in local currencies - Eritrea<\/title>\n<meta name=\"description\" content=\"BRICS, a bloc of leading emerging markets, is preparing to launch new bonds in global markets, which will be available i ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/eritrea\/all-news\/brics-bank-to-release-bonds-in-local-currencies\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BRICS bank to release bonds in local currencies\" \/>\n<meta property=\"og:description\" content=\"BRICS, a bloc of leading emerging markets, is preparing to launch new bonds in global markets, which will be available i ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/eritrea\/all-news\/brics-bank-to-release-bonds-in-local-currencies\" \/>\n<meta property=\"og:site_name\" content=\"Eritrea\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-21T21:14:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-21T22:22:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/eritrea\/sites\/27\/2024\/01\/sm_1705863019.143067.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"485\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/brics-bank-to-release-bonds-in-local-currencies#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/brics-bank-to-release-bonds-in-local-currencies\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"BRICS bank to release bonds in local currencies\",\"datePublished\":\"2024-01-21T21:14:00+00:00\",\"dateModified\":\"2024-01-21T22:22:18+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/brics-bank-to-release-bonds-in-local-currencies\"},\"wordCount\":265,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/brics-bank-to-release-bonds-in-local-currencies#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/eritrea\/sites\/27\/2024\/01\/sm_1705863019.143067.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Eritrea\",\"Eritrea\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/eritrea\/all-news\/brics-bank-to-release-bonds-in-local-currencies#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/brics-bank-to-release-bonds-in-local-currencies\",\"url\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/brics-bank-to-release-bonds-in-local-currencies\",\"name\":\"BRICS bank to release bonds in local currencies - 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