BRICS is sharpening the de-dollarization agenda by involving local leaders, municipality heads, and unions of over 21 developing nations. The BRICS+ Forum has invited over 200 mayors from 21 countries to have a say in the process. The meeting is scheduled to be held from June 21, 2024, and countries that are unheard of on the global stage will also be a part of the forum.
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The alliance is giving developing countries a platform to express their views and come out from the helm of the US dollar. The move will provide them with a glimmer of hope and strengthen their native economies by using local currencies. BRICS is slowly yet steadily advancing the de-dollarization agenda across the globe to bring the US dollar down.
Read here to know how many sectors in the US will be impacted if BRICS ditches the dollar for trade. De-dollarization can lead to massive inflation in the US making the cost of daily essentials skyrocket in the homeland. The only bloc that benefits from de-dollarization is BRICS as they’re aiming to put local currencies ahead for trade.
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De-Dollarization: ‘Unheard Countries’ Gain a Platform in BRICS Forum 2024
Source: Li Xueren / Xinhua / Getty Images
The Chairwoman of Thailand’s ruling, Paetongtarn Shinawatra said in a meeting that BRICS+ Forum 2024 empowers unheard nations. She thanked the alliance for allowing countries that have no say in the global financial sector to come forward and express their views. She stressed on the importance of a multipolar world through BRICS and the significance of the de-dollarization initiative.
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“We are confident that under Russia’s BRICS chairmanship, countries that have not been heard before will finally have a say. In the past, only a few superpowers could dictate their terms. Today, the multilateral world also pays great attention to different groups and players who can express their position. We believe that we should connect various nations and cultures,” she said.