posted on Mar, 17 2009 @ 10:28 PM
"The International Monetary Fund should investigate the possible creation of a new reserve currency, widening the list of reserve currencies or using
its already existing Special Drawing Rights, or SDRs, as a "superreserve currency accepted by the whole of the international community," the Kremlin
said in a statement issued on its web site.
The SDR is an international reserve asset, created by the IMF in 1969 to supplement the existing official reserves of member countries.
The Kremlin has persistently criticized the dollar's status as the dominant global reserve currency and has lowered its own dollar holdings in the
last few years. Both President Dmitry Medvedev and Prime Minister Vladimir Putin have repeatedly called for the ruble to be used as a regional reserve
currency, although the idea has received little support outside of Russia."
(visit the link for the full news article)
[edit on 3/17/2009 by semperfortis]