Ahead of the annual summit in South Africa, nineteen countries have expressed interest in joining the BRICS group of nations.
A new currency?
A few weeks ago, rumors circulated from Russia regarding the intention of the BRICS alliance (Brazil, Russia, India, China and South Africa) to work together to create a new currency, which could represent a credible alternative to the dollar internationally.
The person speaking was Alexander Babakov, deputy chairman of the Duma, who, as reported by the Sputnik news agency, explained that the possibility of creating an innovative currency is being explored, and intends to share the proposals on its establishment during the next summit in South Africa.
The plan would be to initially switch to using national currencies in transactions and then introduce and circulate a digital or alternative form of a revolutionary currency in the near future.
The currency would be backed not only by gold but also by other assets, including rare earths or even land.
Ahead of the next summit in South Africa
Now, ahead of the annual summit in South Africa, new news is leaking: nineteen countries have reportedly expressed interest in joining the BRICS group of nations.
The emerging markets bloc of Brazil, Russia, India, China and South Africa will meet in Cape Town on June 2-3 to discuss its expansion, explained Anil Sooklal, South African ambassador to the group:
"What will be discussed is the expansion of the BRICS and how this will happen. Thirteen countries have applied formally to join and six others have applied informally. We are receiving applications for membership every day".
Original article published on Money.it Italy 2023-04-27 08:00:00. Original title: BRICS: 19 Paesi chiedono di aderire all’alleanza, mentre si lavora a una nuova valuta
