Premature for SA to withdraw from dollar and SWIFT, says Godongwana
Alternative payment system ‘has not been sufficiently canvassed’, says finance minister
22 August 2023 - 11:36
Suggestions that Brics member states are ready to use an alternative payment system to the SWIFT international payment system in a bid to lessen their reliance on the dollar are premature, especially for SA whose trade is skewed towards the west, says finance minister Enoch Godongwana.
Godongwana, who chairs the Brics (Brazil, Russia, India, China and SA) work stream of finance ministers, says the matter of an alternative payment system away from the internationally recognised SWIFT payment system “has not been sufficiently canvassed as part of our meetings as finance ministers”...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.