The next BRICS summit is scheduled for August 22–24 in Johannesburg, South Africa. All four heads of state will be present at the meeting except for Russia’s President Vladimir Putin, who will attend the summit virtually. Ambassadors from various parts of the world will be present to provide insights about the topics to be discussed.
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The stage is all set for BRICS, and the 15th summit is the most important event as it could reshape not only its future but that of the financial world. In this article, we will highlight the topics that could be discussed at the upcoming BRICS summit.
BRICS: What Will Be Discussed in the Upcoming Summit?
South African Ambassador Anil Sooklal confirmed that BRICS will discuss using local currencies for global trade at the summit. The “Discussion focuses on deepening use of local currencies,” he said. The Ambassador confirmed that BRICS will not look at creating a new currency this time as it requires stringent work and the bloc is not ready for development yet.
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Therefore, the BRICS summit will discuss the use of native currencies and find ways to sideline the U.S. dollar. Read here to know how many sectors in the U.S. could be affected if BRICS trade in local currencies.
Additionally, the BRICS bloc will also decide on expansion efforts and could announce the induction of new members. BRICS is reviewing applications formally submitted by 23 countries ahead of the summit that expressed interest in joining the group. The alliance could soon grow into BRICS+ by the end of the year, making it stronger on the international stage.
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