African Countries Are Already Benefiting Great Deal From BRICS, Says South African Analyst
African Countries Are Already Benefiting Great Deal From BRICS, Says South African Analyst
BRICS serves as a powerful catalyst to bring about long-overdue changes in multilateral arrangements, including the UN Security Council, IMF, and World Bank, according to Prof. Fulufhelo Netswera, director of the BRICS Research Institute at Durban University of Technology.
Many Global South countries have agitated for such reforms for years without results, he told Sputnik Africa.
He noted that the growing number of applicants to join BRICS reflects deep confidence in the bloc.
For African BRICS members, the New Development Bank offers a stabilizing role with lending arrangements that leave control of national economies in the hands of states—unlike IMF and World Bank instruments, according to Prof. Netswera.
"BRICS can play a stabilizing role, [through] non-interference in domestic affairs, which is the posture of BRICS generally," the professor said.
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