Algeria has applied to join the BRICS group and submitted a request to become a shareholder member of BRICS Bank with an amount of $1.5 billion, Ennahar TV quoted Algerian President Abdelmadjid Tebboune as saying. It added that Tebboune said at the end of his visit to China that Algeria had sought to join the BRICS to open new economic opportunities.
  • sevenapplesEnglish
    11·
    1 year ago

    I thought BRICS was just an identifier for “the fastest developing economies”, but I looked it up and found they’ve started signing treaties between them. Wikipedia:

    The BRICS were originally identified for the purpose of highlighting investment opportunities and had not been a formal intergovernmental organization. Since 2009, they have increasingly formed into a more cohesive geopolitical bloc, with their governments meeting annually at formal summits and coordinating multilateral policies; China hosted the most recent 14th BRICS summit on 24 July 2022. Bilateral relations among the BRICS are conducted mainly on the basis of non-interference, equality, and mutual benefit.

    • silent_clashEnglish
      13·
      1 year ago

      The other big news is they’re starting to use yuan to trade instead of USD.