New Delhi:— In a major blow to BRICS, India has backed out from creating a common BRICS currency for trade.
— Indian Foreign Minister says India will not support any common BRICS currency for trade.
— BRICS have been working a new common currency for trade between BRICS countries, replacing dollar.
— A prominent Chinese think-tank has asked to 'expel' India from BRICS, declaring it the "weakest link".
— BRICS contribute to 31.5% of global GDP, surpassing G7 group, making it the biggest economic bloc.
— Many western finance institutes have warned that a BRICS currency can challenge dollar dominance.
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South Africa invites leaders from all African countries to BRICS summit
https://www.independent.co.ug/south-afr ... cs-summit/
July 8, 2023
Ramaphosa has decided to invite all African leaders as part of the BRICS outreach
Johannesburg, SA | Xinhua | South Africa has invited heads of state of all African countries to the BRICS summit, which is set to be held in August in Johannesburg, a senior government official said.
South Africa’s BRICS Sherpa Anil Sooklal said at a media briefing Thursday.President (Cyril) Ramaphosa has decided to invite all African leaders as part of the BRICS outreach so we have extended an invitation to all African leaders to come and have dialogue with BRICS leaders,
The summit will discuss how the BRICS countries can partner with Africa to help the continent achieve economic growth, Sooklal said, noting that President Ramaphosa will host a dinner for BRICS leaders, which will also be attended by African leaders.
Those who have been invited include leaders from the African Union and regional economic communities as well as business leaders, according to Sooklal.
The BRICS is an acronym for five emerging economies — Brazil, Russia, India, China and South Africa.
South Africa assumed the BRICS presidency on Jan. 1, 2023, taking over from China.