Trading in Our Own Currencies: Key Focus at BRICS Summit in Johannesburg
The upcoming BRICS summit in Johannesburg is set to prioritize strengthening economic ties and establishing a stable global financial architecture. South Africa’s BRICS Sherpa, Anil Sooklal, highlighted the importance of trading in their own currencies to achieve this goal. Despite recession forecasts from the IMF and World Bank, Sooklal expressed confidence in the resilience of the BRICS nations, particularly with India and China driving positive dynamics and global economic stimulation.
In addition to economic cooperation, the summit aims to enhance collaboration in areas such as trade, investment, finance, the digital economy, and sustainable development. Sooklal revealed that the BRICS group is also considering expanding its membership, with 19 countries expressing interest in joining. This interest reflects the confidence of the Global South in the leadership of the association.
With the BRICS summit marking the first face-to-face gathering in four years, anticipation is building for fruitful discussions and actions that will shape the future of economic cooperation and global financial stability.
Clever Robot News Desk 19th May 2023