The world is going through an unprecedented geopolitical transition with the emergence of the multipolar world system promoted by the five nations of Brazil, Russia, India, China and South Africa under the acronym BRICS.
This grouping threatens the unipolar world system led by the United States of America and the collective West with their requisite military pact (NATO) and the international financial framework (IMF and World Bank, Paris Club etal). More importantly, this grouping poses a major threat to the dominance of the US Dollar in international trading exchanges, as it paves way for use of local currencies in trade.
BRICS countries account for 23 percent of the world economy, 18 percent of trade in goods and 25 percent of all capital attracted to the world economy - are an important force in the global economy and can certainly not be ignored.
Press Secretary at the Russian embassy in Gaborone, Alexey Nesterov, explains that an important result of the interaction of the BRICS countries was the launch in 2014 of the New Development Bank (NDB) headquartered in Shanghai and the BRICS Contingent Reserve Pool with a total amount of funds of 200 billion US dollars.
As of January 23, 2023, the NDB has approved 83 investment projects totaling more than $30.1 billion. Responding in a timely manner to the needs of the BRICS countries during the crisis, the Bank launched in March 2020 a USD 10 billion assistance programme to combat the COVID-19 pandemic and overcome its socio-economic consequences.
In 2018, the opening of the African Regional Centre of the NDB in South Africa took place; in 2019, 2020 and 2022 similar structures have been established in Brazil, Russia and India.
In accordance with the decision of the leaders of the BRICS countries, the NDB has begun to expand the composition of shareholders. In 2022, Bangladesh and the UAE officially became new members of the Bank. Upon completion of internal procedures, Uruguay and Egypt will become members of the Bank, in fact, Egypt has just announced that it has joined.
From January 1 to December 31, 2023, South Africa will chair the BRICS under the motto: “BRICS and Africa: a partnership for accelerated growth, sustainable development and inclusive multilateralism.”
The priorities of the South African Presidency this year include strengthening multilateralism, reforming global governance institutions, post-pandemic economic recovery and sustainable development, including through unlocking the potential of the African Continental Free Trade Area, deepening cooperation for an equitable and equitable energy transition, and combating change.
Climate change, as well as transforming education and increasing the meaningful participation of women in peace processes. This was the message reiterated by Russian foreign minister Sergey Lavrov and his South African counterpart last month during the former’s Southern African whirlwind tour.
The immediate aftermath of Lavrov’s visit is that a joint military drill involving the navies of South Africa, Russia and China will begin today in Durban.
This grouping threatens the unipolar world system led by the United States of America and the collective West with their requisite military pact (NATO) and the international financial framework (IMF and World Bank, Paris Club etal). More importantly, this grouping poses a major threat to the dominance of the US Dollar in international trading exchanges, as it paves way for use of local currencies in trade.
BRICS countries account for 23 percent of the world economy, 18 percent of trade in goods and 25 percent of all capital attracted to the world economy - are an important force in the global economy and can certainly not be ignored.
Press Secretary at the Russian embassy in Gaborone, Alexey Nesterov, explains that an important result of the interaction of the BRICS countries was the launch in 2014 of the New Development Bank (NDB) headquartered in Shanghai and the BRICS Contingent Reserve Pool with a total amount of funds of 200 billion US dollars.
As of January 23, 2023, the NDB has approved 83 investment projects totaling more than $30.1 billion. Responding in a timely manner to the needs of the BRICS countries during the crisis, the Bank launched in March 2020 a USD 10 billion assistance programme to combat the COVID-19 pandemic and overcome its socio-economic consequences.
In 2018, the opening of the African Regional Centre of the NDB in South Africa took place; in 2019, 2020 and 2022 similar structures have been established in Brazil, Russia and India.
In accordance with the decision of the leaders of the BRICS countries, the NDB has begun to expand the composition of shareholders. In 2022, Bangladesh and the UAE officially became new members of the Bank. Upon completion of internal procedures, Uruguay and Egypt will become members of the Bank, in fact, Egypt has just announced that it has joined.
From January 1 to December 31, 2023, South Africa will chair the BRICS under the motto: “BRICS and Africa: a partnership for accelerated growth, sustainable development and inclusive multilateralism.”
The priorities of the South African Presidency this year include strengthening multilateralism, reforming global governance institutions, post-pandemic economic recovery and sustainable development, including through unlocking the potential of the African Continental Free Trade Area, deepening cooperation for an equitable and equitable energy transition, and combating change.
Climate change, as well as transforming education and increasing the meaningful participation of women in peace processes. This was the message reiterated by Russian foreign minister Sergey Lavrov and his South African counterpart last month during the former’s Southern African whirlwind tour.
The immediate aftermath of Lavrov’s visit is that a joint military drill involving the navies of South Africa, Russia and China will begin today in Durban.
