Global Shift Away From US Dollar Is Now ‘Inevitable’, Says Venezuelan President Nicolas Maduro

Global Shift Away From US Dollar Is Now ‘Inevitable’, Says Venezuelan President Nicolas Maduro


Venezuelan President Nicolas Maduro says a significant decline in the global use of the US dollar is now inevitable.

In his latest weekly update, Maduro points to US sanctions as the core reason that nations are exploring ways to reduce their reliance on the world’s reserve currency.

Maduro says African nations are setting the tone.

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“They are adding to the process of the inevitable de-dollarization of the world.

The more multipolar the world is, the more multicentric the world is. As the world moves further toward equilibrium, a basket of currencies will appear…

Many alternative initiatives to the US dollar are emerging. We could say we are beginning to live a sustained accelerated process of de-dollarization of the commercial world, of world trade.”

Maduro

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