Hey amigos! 🌍 Did you hear what went down at the 16th BRICS Summit on Wednesday? The BRICS countries—Brazil, Russia, India, China, and South Africa—came together to voice their concerns over some seriously uncool economic measures that are messing with global vibes. 😤
In their Kazan Declaration, they called out the destructive impact of illegal unilateral coercive measures on the world economy, international trade, and our journey towards sustainable development goals. Talk about standing up for what's right! ✊
But wait, there's more! The BRICS nations are pushing for a revamp of the old-school Bretton Woods system. They want to spice things up by giving emerging markets and developing countries a bigger say in the global economic scene. 🌐💪
They're also backing the New Development Bank (NDB) in rolling out its strategy for 2022-2026 and expanding local currency financing. Basically, they're all about making money matters more accessible and fair for everyone. 💵🌱
The BRICS squad agreed to build the NDB into a fresh kind of multilateral development bank fit for the 21st century. They're all in for expanding its membership and fast-tracking new members from BRICS countries. The more, the merrier! 🎉
Oh, and they're super keen on boosting financial cooperation and promoting local currency settlements. Bye-bye, unnecessary fees! 👋
The declaration highlighted that new centers of power, policy-making, and economic growth are emerging worldwide. This means a more equitable, just, democratic, and balanced multipolar world is on the horizon. 🌅✨
For emerging markets and developing countries, this trend opens up sweet opportunities to benefit from inclusive economic globalization. It's all about sharing the wealth and making sure everyone gets a piece of the pie! 🥧🤝
So, keep your eyes peeled, folks! The world is changing, and the BRICS nations are shaking things up for a brighter future. Let's stay tuned and see where this exciting journey takes us! 🚀🌟
Reference(s):
BRICS countries voice concern over unilateral coercive measures
cgtn.com
