BRICS: Africa to Ditch US Dollar as World Bank Fails To Provide Funds?
The BRICS alliance invited six new countries to join the bloc after the 15th summit in Johannesburg last year. Out of the six countries, the UAE, Egypt, Iran, and Ethiopia accepted the invitation and are now part of BRICS. However, Argentina was the first country to decline BRICS membership and Saudi Arabia is yet to confirm its position. Experts suggest that BRICS played a power play move by inducting Ethiopia, which is a growing economy in Africa. Also Read: BRICS : China Stockpiling 1.39 Million Barrels of Oil Every Day The World Bank has turned a blind eye to Africa which could make them cut ties with the US dollar. BRICS inducting Ethiopia, could be more of a power game to capture the anti-US dollar sentiments in Africa. BRICS: Africa Sits On The Sidelines of Ditching the US Dollar For Global Trade Source: AFP Geopolitical experts told Jeune Afrique Magazine that the World Bank failed to provide adequate financial assistance and attention to Africa . The World Bank...