Reforming the Global Financial System: Expert Insights on the Dollar Dominance

2023-06-23 15:05:30

Al-Marsad Newspaper: International trade expert, Dr. Fawaz Alami, said that the global financial system needs reform and not a complete change, stressing that all countries abandoned the use of gold and agreed that the dollar be the only currency of the world.

Al-Alami added, in his interview with Saudi Arabia: “Today, we find that 82% of countries use the dollar, and foreign financial reserves in all countries of the world are 60% of them in dollars, and this cannot be.”

He concluded: “The Paris summit came as a first step towards the G7 meeting, and the French president wanted to raise the major problems, not only in the dollar, but in the climate, sustainable and green development.”

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