Peskov points to trend toward declining role of dollar as global reserve currency

Updated at: Peskov points to trend toward declining role of dollar as global reserve currency The Kremlin spokesman noted that the foundations of the international economic order are being depreciatedRussian Presidential Spokesman Dmitry Peskov © Sergey Fadeichev/TASSMOSCOW, June 24. /TASS/. A trend toward a declining share of the dollar as a global reserve currency is becoming increasingly evident, Russian Presidential Spokesman Dmitry Peskov said at the 12th Primakov Readings international academic and expert forum, a TASS correspondent reported. The Kremlin spokesman noted that the foundations of the international economic order, as well as the world’s primary reserve currency, are being depreciated. “We see that the share of the main reserve currency in international settlements remains high, but there is a clear trend toward its decline. This decline is occurring not because countries are choosing to abandon it, but because the issuer is attempting to impose its own rules. Countries simply do not like that,” Peskov said. Speaking at a session devoted to scenarios for the global order by the middle of the 21st century, he stressed the importance of understanding the current stage of global transformation: “Is this the initial stage of transformation, or is it already complete chaos? In other words, are we in a state of complete chaos across all dimensions? Or has the transformation already entered a new phase, in which the outlines of some understandable future world order have begun to emerge? It seems to me that without such a definition it is very difficult, and indeed impossible, to make forecasts." 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