BRICS Summit
The inaugural BRIC (Brazil, Russia, India, and China) summit was held in Jun 2009. After South Africa officially became a member state in Dec 2010, the summit was changed to BRICS;
- History
Expected Impact / Date | Description |
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Aug 24, 2023 | Due to meet about a range of global economic issues, including BRICS expansion, global geopolitics, trade, and infrastructure development, in Johannesburg; |
Aug 23, 2023 | Due to meet about a range of global economic issues, including BRICS expansion, global geopolitics, trade, and infrastructure development, in Johannesburg; |
Aug 22, 2023 | Due to meet about a range of global economic issues, including BRICS expansion, global geopolitics, trade, and infrastructure development, in Johannesburg; |
Jun 23, 2022 | Due to meet about a range of global economic issues including creation of a new, basket type reserve currency in Beijing, via Satellite; |
Sep 9, 2021 | Due to meet about a range of global economic issues including BRICS Games in New Delhi, via Satellite; |
Nov 17, 2020 | Due to meet about a range of global economic issues including Covid-19 pandemic in St. Petersburg, via Satellite; |
Nov 14, 2019 | Due to meet about a range of global economic issues including advance technology and digital currency, in Brazil; |
Nov 13, 2019 | Due to meet about a range of global economic issues including advance technology and digital currency, in Brazil; |
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- BRICS Summit News
The most recent summit of Brazil, Russia, India, China and South Africa has now ended amid excited media coverage. Brics – which is expanding to 11 members – is often portrayed as a rising counterweight to a US-led G7 and established global governance order, plus a potential threat to dollar dominance. The hyperbole is woefully exaggerated. Global weight is surely now more dispersed than before. China is the second-largest world economy, swamping individual European countries and Japan, and US-China tensions have intensified. The ...
The 14th summit of Brics countries – Brazil, Russia, India, China and South Africa – has made clear that the possible creation of a common currency is still an illusion for now. A common currency would in theory enable Brics countries to move from bilateral to multilateral clearing in trade settlement and reduce their dependence on the dollar. A declaration released at the gathering in Johannesburg on 24 August made no mention of a common currency and instead focused on bilateral clearing – the second-best option. It stressed the ...
Oil trades have sometimes been settled in the Chinese yuan , Russian ruble or Indian rupee , but the idea of “de-dollarization” — or moving away from the U.S. dollar to settle trades in other currencies — is still far away. “I would like to be able to transact everything in rupees. That’s my personal [view],” India’s Oil and Gas Minister Hardeep Singh Puri told CNBC in an exclusive interview on the sidelines of the Business 20 meeting in New Delhi. However, the U.S. dollar will remain the currency of choice for transactions in ...
One key outcome of the 15th Brics summit, hosted by South Africa, is the decision to invite six more countries to join the group with effect from January 2024. They are Argentina, Ethiopia, Iran, Saudi Arabia, Egypt and the United Arab Emirates. All six had applied for membership. The enlargement will grow the association’s membership to 11, and increase its envisaged role as a geopolitical alternative to global institutions dominated by the west. The five current member countries – Brazil, Russia, India, China and South Africa – ...
Suggestions that the BRICS group of emerging market powers establish their own currency to reduce their reliance on the dollar aren’t under serious consideration and never have been, South Africa’s finance minister said. “No one has tabled the issue of a BRICS currency, not even in informal meetings,” Enoch Godongwana said in an interview on the sidelines of the bloc’s annual summit in Johannesburg on Thursday. “Setting up a common currency presupposes setting up a central bank, and that presupposes loosing independence on monetary ...
We knew that the expansion of the BRICS grouping was top of the agenda at this 15th BRICS summit in South Africa. We had thought that the United Arab Emirates (UAE), Egypt and Bangladesh would be invited to join given they were already part of the BRICS’s New Development Bank. In the end, it was not only the UAE and Egypt invited to join, but also Saudi Arabia, Iran, Argentina and Ethiopia. The biggest surprise is Saudi Arabia. It had been rumoured that the country wanted to enter the group, but the geo-political situation – given ...
The most recent summit of Brazil, Russia, India, China and South Africa has now ended amid excited media coverage. Brics – which is expanding to 11 members – is often portrayed as a rising counterweight to a US-led G7 and established global governance order, plus a potential threat to dollar dominance. The hyperbole is woefully exaggerated. Global weight is surely now more dispersed than before. China is the second-largest world economy, swamping individual European countries and Japan, and US-China tensions have intensified. The ...
We knew that the expansion of the BRICS grouping was top of the agenda at this 15th BRICS summit in South Africa. We had thought that the United Arab Emirates (UAE), Egypt and Bangladesh would be invited to join given they were already part of the BRICS’s New Development Bank. In the end, it was not only the UAE and Egypt invited to join, but also Saudi Arabia, Iran, Argentina and Ethiopia. The biggest surprise is Saudi Arabia. It had been rumoured that the country wanted to enter the group, but the geo-political situation – given ...
BRICS leaders have agreed to expand the club of major emerging economies and adopted conditions for entry, South Africa said on Wednesday (Aug 23), as the bloc pursues greater clout to shape the world order. Calls to enlarge the BRICS - Brazil, Russia, India, China and South Africa - has dominated the agenda at its three-day summit in Johannesburg and exposed rifts between members. China is seeking to rapidly grow the BRICS amid rising competition with the United States but the group's other major power, India, is wary of the ...
Brazil's President called on Wednesday for the BRICS nations to create a common currency for trade and investment between each other, as a means of reducing their vulnerability to dollar exchange rate fluctuations. Luiz Inacio Lula da Silva made the proposal at a BRICS summit in Johannesburg. Officials and economists have pointed out the difficulties involved in such a project, given the economic, political and geographic disparities between Brazil, Russia, India, China and South Africa. Brazil's president doesn't believe nations ...
The most recent summit of Brazil, Russia, India, China and South Africa has now ended amid excited media coverage. Brics – which is expanding to 11 members – is often portrayed as a rising counterweight to a US-led G7 and established global governance order, plus a potential threat to dollar dominance. The hyperbole is woefully exaggerated. Global weight is surely now more dispersed than before. China is the second-largest world economy, swamping individual European countries and Japan, and US-China tensions have intensified. The ...
Released on Aug 24, 2023 |
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Released on Aug 23, 2023 |
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Released on Aug 22, 2023 |
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