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There will be a greater international role for the ruble — Jeffrey Sachs

The American economist stressed that "the share of international finance in US dollars, either to settle payments or to hold foreign exchange reserves or to hold investments, will diminish"

MOSCOW, May 30. /TASS/. The importance of the ruble in international economic relations will increase, American economist, director of the Center for Sustainable Development at Columbia University (New York), Professor Jeffrey Sachs said in an interview with TASS.

"We are moving to a multi-currency world, just like we're moving or have moved to a multi-polar world. So, there will be a greater international role for the ruble, for the rupee, for the renminbi than in the past," Sachs noted.

Commenting on the future of the dollar in the global economy, the professor stressed that "the share of international finance in US dollars, either to settle payments or to hold foreign exchange reserves or to hold investments, will diminish."

"So, I think we're already in that period of moving to a multi-currency system," Sachs concluded.

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