Alliance of Sahel States (AES) to Launch New Currency

Alliance of Sahel States (AES) to Launch New Currency

Alliance of Sahel States (AES) to Launch New Currency

The Alliance of Sahel States (AES) organization wants to develop a new West African currency without ties to the US dollar

BRICS is not the only group aiming to dethrone the US dollar as the world’s reserve currency. It has now inspired a new counterpart, who likewise intends to emulate the progress and forward the de-dollarization objective.

Like the BRICS idea, three African countries plan to develop a new currency and replace the US dollar for trade settlements.

A trio of African countries, Niger, Mali, and Burkina Faso, are preparing to create a new currency. All three nations are former French colonies that have had military coups in recent years. Military governments now control the three nations. They are now following the BRICS model by establishing a new currency.

Alliance of Sahel States (AES) to Take BRICS Steps

The three African nations have also created a new defensive partnership, the Alliance of Sahel States (AES). The AES group wishes to establish a new ‘West Africa’ currency without connections to the US dollar. The trio of nations intend to settle commerce using the new currency rather than the US dollar. The concept is comparable to that of BRICS, which develops a new currency.

The development will blow up the US currency as numerous other countries join the de-dollarization movement. BRICS has spurred new coalitions to abandon the US dollar and develop other currencies.

General Abdourahmane Tiani, the head of Niger’s ruling military junta, acknowledged his intentions to develop a shared currency similar to the BRICS. “The currency is a first step toward breaking free from the legacy of colonization,” he told France 24.

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