BRICS Faces Funding and Western Pressure
The article discusses the launch of the eighteenth BRICS summit in New Delhi, amid a turbulent global atmosphere. The expanding group of developing countries is aiming to strengthen its role in shaping the international order and reducing Western dominance. Its objectives include reforming international financial institutions, granting emerging economies greater representation in the International Monetary Fund and the World Bank, developing a dedicated development bank that offers affordable financing without political conditions, supporting foreign exchange reserves, and encouraging the use of national currencies in trade. The bloc also faces significant challenges, most notably economic sanctions and protectionist tariffs that hinder its economic independence, as it strives for greater global balance.
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