Setback For De-Dollarization? No BRICS Currency Talks At South Africa Summit But 44 Nations Wish To Join The Union, Says Official
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The BRICS, an acronym referring to Brazil, Russia, India, China and South Africa, are meeting in Johannesburg in August 22-24 and it was rumored that group of nations could launch the common currency at the event.
South Africa’s Ambassador at Large for Asia and BRICS Anil Sooklal said at a media briefing this week that the BRICS currency is not on the agenda at next month’s meeting, Reuters reported.
“What we have said and we continue to deepen is trading in local currencies and settlement in local currencies.”
Sooklal reportedly said more than 40 nations have expressed interest in joining the BRICS. Since BRICS was initially formed as BRIC in 2009 sans South Africa, the latter was the only addition to the group.
“Twenty-two countries have formally approached BRICS, an equal number of informal approaches,” Sooklal reportedly said.
