13 Countries Formally Request to Join BRICS As Economic Alliance Challenges US Dollar Supremacy

A total of 13 countries have now formally asked to join the global economic alliance known as BRICS.

In an interview with TV BRICS, African Ambassador Anil Sooklal says nations from Africa, Latin America and Asia are looking to become new members.

“So far, a number of countries (at least 13) from Africa, Latin America and Asia have applied or formally approached the BRICS leaders to become members of our association.

This is positive news for the bloc, as it demonstrates the confidence of the global south in the leadership of our association.”

Sooklal says BRICS, which is reportedly considering the launch of a global currency backed by gold, is now encouraging members to shift away from the US dollar and settle transactions in their own national currencies.

“In general, BRICS as a global association is based on three pillars – political security, economic and financial development, and social interaction among the member countries.

All three pillars are critical important for the creation of a global political architecture that is equitable and just, which is a stable safe environment for all. On the economic and financial side, we need a stable global financial architecture, a global financial arena. That is why we say that we need to trade in our own currencies.”

BRICS, which stands for Brazil, Russia, India, China and South Africa, is set to hold its yearly summit in August.

In addition to strengthening economic ties, Sooklal says leaders also plan to discuss sustainable development and green energy initiatives.

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney