{"id":19023,"date":"2023-03-22T15:57:33","date_gmt":"2023-03-22T15:57:33","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/vladimir-putin-says-russia-wrote-off-african-countries-debts-totaling-over-20-billion-in-2022-africa-bitcoin-news\/"},"modified":"2023-03-22T15:57:33","modified_gmt":"2023-03-22T15:57:33","slug":"vladimir-putin-says-russia-wrote-off-african-countries-debts-totaling-over-20-billion-in-2022-africa-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/vladimir-putin-says-russia-wrote-off-african-countries-debts-totaling-over-20-billion-in-2022-africa-bitcoin-news\/","title":{"rendered":"Vladimir Putin Says Russia Wrote Off African Countries’ Debts Totaling Over $20 Billion in 2022 \u2013 Africa Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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African countries\u2019 debts totaling more than $20 billion were written off in the past year, Russian President Vladimir Putin said on March 20. Putin also revealed that trade between Russia and Africa had nearly reached $18 billion by the end of the year. According to the Russian leader, the majority of the world is opposed to the West\u2019s \u201cneo-colonial\u201d ideology.<\/strong><\/p>\n

Putin Wants Trade Between Russia and Africa Bolstered<\/h2>\n

According to Russian President Vladimir Putin, in 2022 Moscow wrote off debts of African countries that totaled over $20 billion. During the same year, trade between the two sides nearly topped $18 billion.<\/p>\n

Speaking <\/a>at a recent international conference, Putin, whose country has been hit by Western sanctions, also talked about the possibility of increasing the value of trade between the two regions.<\/p>\n

\u201cIt is unlikely that such a figure can fully suit us, but we know that this is far from the limit,\u201d Putin reportedly said.<\/p>\n

Besides bolstering direct trade between his country and the African continent, the Russian leader also spoke about his envisioned global financial system that is not dominated by the U.S. dollar. After Russia invaded Ukraine, Western countries responded by imposing sanctions on Moscow and cutting off the country from the global financial system.<\/p>\n

To counter the West\u2019s move, Russia has not only advocated<\/a> for an alternative to the dollar-dominated financial system, but has signed bilateral agreements with countries like China and India. Under the terms of some of the agreements, national currencies are used to settle trades.<\/p>\n

\u2018Counter-Commodity Exchanges\u2019<\/h2>\n

Meanwhile, in his message to African countries, Putin also talked about the development of what he called \u201ccounter-commodity exchanges.\u201d The Russian leader claimed that a \u201cmore energetic transition in financial settlements to national currencies\u201d as well as \u201cthe establishment of new transport and logistics chains\u201d may facilitate the development of the envisioned commodity exchanges.<\/p>\n

Concerning what he termed the Western countries\u2019 \u201cneo-colonial ideology,\u201d Putin claimed that the majority of the world still \u201cupholds moral norms and social principles traditional for our peoples\u201d and is opposed to ideals that are imposed from outside.<\/p>\n

Register your email here to get a weekly update on African news sent to your inbox:<\/em><\/p>\n

What are your thoughts on this story? Let us know what you think in the comments section below. <\/strong><\/em><\/p>\n

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\nTerence Zimwara <\/h6>\n

\nTerence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons, ID1974 \/ Shutterstock.com<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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