The Ministry of Finance warned about the risks of keeping reserves in dollars and euros
The Russian Ministry of Finance has warned about the risks of storing reserves in dollars and euros.
Deputy Finance Minister Ivan Chebeskov noted that many countries keep their reserves in these currencies, and this creates great risks.
He stressed that at the meetings of the G7 countries, no one discusses the problems with the debts of developed countries, RIA Novosti writes.
For example, no one talks about the growing debt of the US or Japan and what to do about it.
When developed countries print money and inflation rises, developing markets pay for it, Chebeskov noted.
No one understands how to solve the problem of the huge national debt, which is growing exponentially, Chebeskov summed up.
In addition, Chebeskov added that these issues remain unaddressed, although they are very important.
Holding reserves in dollars and euros can have serious consequences for countries.
