The president of the Novo Development Bank (NBD), Dilma Rousseffsaid this Saturday (5), during BRICS event in Rio de Janeiro, that he sees no sign of dedolarization, but countries using his own coins and search for security.
“I do not see, clearly, no sign of decalarization. What I see is many countries using their own coins to trade. I am also seeing a search for security, everyone wants security. I think there is a lot of diversification and who decides that is the market […] And as far as I know, the international financial market is still dollarized, “said Dilma.
She highlighted the movement that occurred on April 2, known as, when Trump announced a series of retaliatory tariffs and the financial agents allocated their security assets outside the dollar – contrary to what usually happens in times of crisis.
“The dollar, usually, when it has a crisis, everyone searches and runs to the dollar, because it is a place that protected you. In this episode (Liberation Day), they did not run to the dollar, unlike 200, when everyone rushed to the dollar […] You can’t just talk about a movement. You have to wait and look, “said Dilma.
The president of NBD also mentioned that the United States has undergone deindustrialization and have a serious balance of payments, as the dollar, as a hegemonic currency, has to be supplied to the world and this implies current account deficits-with the benefit of funding at a lower cost.
