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The BRICS alliance is expanding with several developing countries expressing their interest to join the bloc. While some countries have formally applied to join BRICS by submitting the application, others have informally expressed interest in joining. The countries that want to be a part of the grouping are only growing as the bloc expanded in 2023. Also Read: BRICS : China Makes Major Financial Announcement BRICS alliance invited six new countries to join the alliance last year which includes Saudi Arabia, the UAE, Argentina, Egypt, Iran, and Ethiopia. However, Argentina was the first country to decline membership as the newly-elected President Javier Milei was skeptical about the group. Saudi Arabia has also kept the decision to join the BRICS alliance on hold. The Kingdom is evaluating the pros and cons of joining the group and will provide an answer soon. Currently, only four out of the six countries that received the invitation have joined the grouping. Also Re...

The BRICS alliance is going to get bigger and stronger as 24 new countries now prepare the join the bloc. The nations are looking to end reliance on the U.S. dollar and accept the new BRICS currency for cross-border transactions. The move adds pressure on the dollar and challenges its hegemony as the world’s reserve currency . Nonetheless, if BRICS expands to BRICS +, the dollar and other leading Western currencies like the Euro and Pound could decline. Also Read: After BRICS, 10 ASEAN Countries Ditch The U.S. Dollar Therefore, Western dominance could soon come to an end leading to a new financial order dominated by the East. Developing countries across Asia, Africa, and Latin America are coming together in pushing the de-dollarization efforts into reality. Also, the move could break the U.S. dollar’s global supremacy and destabilize the American economy. 25 Countries Prepare to Join BRICS Alliance Source: DIRCO/GovernmentZA) Two dozen countries are now preparing to...