BRICS

In a world where infrastructure is the backbone of economic prosperity, the New Development Bank (NDB) established by the BRICS nations—Brazil, Russia, India, China, and South Africa—has emerged as a beacon of opportunity. This financial institution is rapidly becoming a vital alternative source of funding, especially for significant infrastructure projects across the Global South. But why is this shift significant? How will it redefine the landscape of development finance? The NDB's growing influence is…

The Recent U.S. Visa Changes and Nigeria’s Response The unfolding situation surrounding U.S. visa restrictions on Nigeria has sparked intense discussions, revealing the layers of complexity in international relations. Recently, the Nigerian government has harshly criticized these visa limitations, asserting that they stem from the U.S.'s refusal to accept undocumented migrants—especially Venezuelan individuals. This dilemma raises numerous questions. What does it say about the current state of global migration? How does it…

The Future of BRICS and the U.S. Dollar: Insights from Brazil’s Central Bank The monetary landscape is a fascinating realm, full of intricate dynamics and shifting power balances. Recently, Nilton David, the Monetary Policy Director at Brazil’s Central Bank, shared his thoughts, shedding light on the BRICS nations and their ongoing relationship with the U.S. dollar. His insights spark a conversation worth having: Can emerging economies ever rival established financial titans? During a recent central bank webcast, David…

Ethiopia is soon to embark on a significant journey that underscores its emerging role in the global economic landscape. The country's anticipated accession to the BRICS New Development Bank (NDB) marks a pivotal moment in not just Ethiopia's economic strategy, but also in the broader narrative of African nations forging robust international partnerships. The NDB, a vital institution aiming to enhance financial sovereignty among its member countries, is clearly dedicated to expanding its influence across emerging markets,…

The BRICS summit in Kazan, Russia, saw leaders issue a comprehensive declaration on crucial matters, including UN reform and global strife.There were a total of 134 provisions listed; one focused on transforming the United Nations."We reiterate our endorsement of a full-scale overhaul of the UN, especially its Security Council, aiming to enhance democracy, representation, efficacy, and efficiency," the document declared. This move seeks to amplify the presence of developing nations to more effectively tackle global…

Chatfest Between Putin and Ethiopian Leader Abiy Ahmed Rocks the BRICS Bash KAZAN, Russia — In the bustling metropolis of Kazan, Russian President Vladimir Putin and Ethiopian Prime Minister Abiy Ahmed huddled during the BRICS shindig, diving into ways to solidify their alliance and dig up new collaborative ventures within the ever-growing BRICS family. Spanning from October 22 to 24, this pow-wow was one of the headline events at this year’s summit, featuring movers and shakers from 36 nations. Russia has pulled out all…

At the recent BRICS summit, Russian President Vladimir Putin advocated for the idea of a new "multipolar world order." This gathering of global leaders, he hopes, will demonstrate that Western efforts to exclude Russia due to its invasion of Ukraine have ultimately failed. Taking place in Kazan, this summit represents the most significant diplomatic event in Russia since Mr. Putin initiated military action in Ukraine in 2022, an act that resulted in extensive Western sanctions and widespread international rebuke.…

Putin Shrugs Off Western Estrangement at BRICS Gathering, Plays Host to 36 Dignitaries to Boost Worldwide Clout KAZAN, Russia — Russian President Vladimir Putin made a splashy comeback on the world platform, gathering 36 international figures at the 16th BRICS summit in Kazan. His move highlights Russia's undiminished sway, despite global attempts to sideline the nation over the Ukraine conflict. Held from October 22 to 24, 2024, this summit is a strategic gambit by Putin, signaling unity with the broadened BRICS posse…