UN advocates for creation of new world currency

UN member states should reach an agreement and create a world reserve bank that would emit new currency and monitor currency exchange rates of its founder states. It is mentioned in the document published after the UN trade and development conference in Geneva, reports The Washington Times.

The administrations of China, India, Brazil and Russia have already suggested finding a replacement for the US dollar being the main world currency this year, reports the BBC.

In the opinion of UN representatives, a new currency would help countries having “new” markets and having a weak representation in the IMF get better access to international credits.