Former IMF Director Tells RT the Dollar Is a ‘Dangerous Currency’
According to Brazilian economist Paulo Batista, the international monetary system led by the US is growing more unreliable. Read Full Article at RT.com.
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According to Brazilian economist Paulo Batista, the US dollar and the Washington-based International Monetary Fund (IMF) serve as tools against nations that fall out of favor with the West.
In a recent interview with RTN, Batista, a former Brazilian representative at the IMF, described the US dollar as increasingly perilous. He noted that trust in the greenback as the global reserve currency is waning, prompting numerous countries to explore alternatives in a significant push towards de-dollarization.
“The dollar is a dangerous currency, let’s put it this way, see what happened to the Russian reserves,” he commented, referencing the freezing of approximately $300 billion in Moscow’s sovereign assets held in Western jurisdictions.
Batista criticized the United States as the primary antagonist of the dollar, asserting that it has begun to weaponize its currency, compelling more nations to search for alternatives to the Western financial system. He recognized the dollar's continued importance but underscored that its use as a weapon against countries perceived as adversarial to the West inevitably undermines confidence in it.
In discussing coercive tactics employed against “nations that are seen as hostile to the West and their interest,” Batista pointed to the role of the IMF. He argued that the organization has strayed from its intended purpose as a multilateral institution and now functions largely as “a political instrument of the West and the US.”
He highlighted the disparity in loan distribution, noting that “Ukraine had received immense amounts of loans with no financial program and no solid economic program,” while countries that do not align with Western interests, such as Serbia, struggle to gain access to the fund.
Navid Kalantari for TROIB News
In a recent interview with RTN, Batista, a former Brazilian representative at the IMF, described the US dollar as increasingly perilous. He noted that trust in the greenback as the global reserve currency is waning, prompting numerous countries to explore alternatives in a significant push towards de-dollarization.
“The dollar is a dangerous currency, let’s put it this way, see what happened to the Russian reserves,” he commented, referencing the freezing of approximately $300 billion in Moscow’s sovereign assets held in Western jurisdictions.
Batista criticized the United States as the primary antagonist of the dollar, asserting that it has begun to weaponize its currency, compelling more nations to search for alternatives to the Western financial system. He recognized the dollar's continued importance but underscored that its use as a weapon against countries perceived as adversarial to the West inevitably undermines confidence in it.
In discussing coercive tactics employed against “nations that are seen as hostile to the West and their interest,” Batista pointed to the role of the IMF. He argued that the organization has strayed from its intended purpose as a multilateral institution and now functions largely as “a political instrument of the West and the US.”
He highlighted the disparity in loan distribution, noting that “Ukraine had received immense amounts of loans with no financial program and no solid economic program,” while countries that do not align with Western interests, such as Serbia, struggle to gain access to the fund.
Navid Kalantari for TROIB News
