BRICS Leader Addresses Fight Against The US Dollar

It’s been reported that the fight against the US dollar is intensifying these days. Check out the latest reports about this below.

A group of economically-aligned nations known as BRICS is reportedly sorting through a surge of interest from countries who are wishing to join the coalition.

It’s important to note the fact that the group, which is exploring the launch of a global currency that would circumvent the US dollar, is preparing to respond to a wave of applications from like-minded countries, reports Telesur.

Naledi Pandor, South Africa’s Foreign Affairs Minister, says BRICS leaders will release a list of requirements for those who are looking to join.

“BRICS is attracting a lot of interest from a number of countries, and our sherpas are working on the concept of how the group can respond to this interest. We hope that our leaders will present final guidelines at the conclusion of the BRICS Summit.”

H continued and said the following:

“The growing interest in the alliance shows that many countries are looking for a multipolar forum that is modern, inclusive and focused on the common good.”

Pandor said the fact that the New Development Bank, a private, multilateral development bank established by BRICS states, is helping new members establish themselves on a global economic stage that has historically been dominated by the US and Western allies.

“We are encouraged by the growth and sustainability of the New BRICS Development Bank and welcome new members. The Bank has helped the members to provide financing for infrastructure needs, support the unlocking of regional value chains and localisation of productive capacities.”

BRICS is fighting for a New World Order.

In a new article on Project Syndicate, Ana Palacio says that developing nations that feel left out are looking for an alternative worldview and institutional system.

According to the former World Bank executive, the nations are currently unhappy as they believe the West-dominated international order is designed to limit their economic growth and keep them from accessing technology that can improve standard of living.