Due to the sanctions imposed by Western countries against Russia, there may be a fragmentation of the global financial system and may likely dilute the US dollar’s dominance in it, Gita Gopinath, the IMF’s first deputy managing director has warned.
The official considers that radical restrictive measures imposed by Western countries after the launch of Russia’s special operation in Ukraine may contribute to the emergence of small currency blocs based on trade between certain groups of states, TASS reports.
“We are already seeing that with some countries renegotiating the currency in which they get paid for trade,” Gopinath told The Financial Times on Thursday.
“The dollar would remain the major global currency even in that landscape but fragmentation at a smaller level is certainly quite possible,” she noted.
The human rights chief of the UN, Michelle Bachelet, said, “After well over a decade of intense conflicts that have inflicted great suffering on millions of people, there is a pressing need for work to advance human rights, justice, and genuine reconciliation for the people of the Central African Republic.”
Bachelet delivered her statement on Wednesday at the High-level dialogue on the human rights situation in the Central African Republic, during the 49th session of the Human Rights Council.
Despite the unilateral ceasefire that was declared by the President on 15 October 2021, the country’s conflicts continue to generate severe violations and abuses of human rights by all parties.
According to OCHA, as a direct result, over 1.4 million people have been forced to flee their homes, and 3.1 million people – 63 per cent of the population – need humanitarian protection and assistance.
The High Commissioner said, “Never in the past five years have there been so many people in acute need in the Central African Republic. Multiple armed groups have continued to perpetrate serious human rights abuses.
Military operations against these groups by the Government’s security forces, supported by various armed elements and foreign private contractors, have also reportedly resulted in serious human rights violations. Killings, conflict-related sexual violence, and grave violations and abuses against children have been alleged against all parties.”
During the last three months of 2021, the Human Rights Division of MINUSCA documented 363 incidents of human rights violations, abuses and breaches of international humanitarian law many extremely severe with 848 victims were recorded.
Some 59 per cent of these incidents were attributed to armed groups that were signatories to the Peace Agreement of February 2019. National security forces and their allies were responsible for 40 per cent of incidents a sharp increase from 23 per cent in January 2021.
Bachelet also said, “In Boyo village in the Ouaka Prefecture, a newly formed pro-government militia, made up of former Anti-Balaka and other recruited youth, allegedly killed 20 people, raped five women and girls, and burned and looted 547 houses in December 2021. Most of the victims were Muslim, and the village appears to have been targeted as a punishment for perceived support for the UPC armed group.”
