Iran’s Deputy Finance Minister Ali Fekri announced Oct. 13 that Iran supports the Russian government’s proposal to “revise the international financial system” presented at the Oct. 10-11 Finance Ministers meeting of BRICS (briefly described in this publication on Oct. 11 and Oct. 12.) NourNews of Iran reported Minister Fekri’s statement on Oct. 14.
The United Arab Emirates Finance Minister Mohamed bin Hadi Al Hussaini expressed on Oct. 12 his support for the Russian Finance Ministry and Central Bank’s proposal in general terms. Asian News International quoted him as saying: “Developing robust infrastructure to manage global economic flows is essential for integrating these nations into the international financial system.” ANI then paraphrased Al Hussaini to the effect that he called for innovations in payment mechanisms and financing in national currencies of the BRICS countries, to stabilize reserves and reduce currency fluctuations.
