More Countries are Registering Interest to Join the BRICS, An Economic Alliance of Brazil, Russia, India, China, and South Africa, and Accepting a New Currency

More countries are registering interest to join the BRICS, an economic alliance of Brazil, Russia, India, China, and South Africa, and accepting a new currency.

South Africa’s top diplomat to BRICS, Ambassador Anil Sooklal, has hinted that the grouping is set to grow bigger this year with more than 30 countries wishing to join the alliance.

The latest report indicates that the countries ready to join the BRICS alliance are Afghanistan, Algeria, Argentina, Bahrain, Bangladesh, Belarus, Egypt, Indonesia, Iran, Kazakhstan, Mexico, Nicaragua, Nigeria, Pakistan, Saudi Arabia, Senegal, Sudan, Syria, the United Arab Emirates, Thailand, Tunisia, Turkey, Uruguay, Venezuela, and Zimbabwe.

The BRICS plus nations have often spoken about creating an alternative currency.

BRICSTether recently launched to be considered as one of the digital currencies.

It will be pegged to 7 Chinese yuan (approximately $1 USD currently).

The BRICS summit set for South Africa in August is expected to decide on whether to expand the alliance.

The development will come as a blow to the United States of America and other Western nations, which will see their GDPs dwindle to that of the BRICS.

A currency is also being mooted, with countries that want to join BRICS also ready to transact using it and probably ditch the United States dollar.