{"id":80727,"date":"2023-05-26T16:54:59","date_gmt":"2023-05-26T15:54:59","guid":{"rendered":"https:\/\/jazairhope.org\/?p=77091"},"modified":"2023-05-26T16:54:59","modified_gmt":"2023-05-26T15:54:59","slug":"with-the-annual-summit-fast-approaching-algeria-to-join-and-adopt-brics-currency","status":"publish","type":"post","link":"https:\/\/jazairhope.org\/en\/with-the-annual-summit-fast-approaching-algeria-to-join-and-adopt-brics-currency\/","title":{"rendered":"With the annual summit fast approaching, Algeria to Join and Adopt BRICS Currency?"},"content":{"rendered":"

As the concept of expansion has been a consistent one for the BRICS bloc, could Algeria join and adopt the developing\u00a0BRICS currency<\/a>? Subsequently, the nation could join a host of different countries that are seeking entry into the bloc.<\/p>\n

With the annual summit fast approaching, more than 20 nations are said to have submitted membership applications to join the collective. Now, with its location and relationship with the\u00a0BRICS nations<\/a>, could Algeria be set to join the bloc?<\/p>\n

Algeria Set to Join BRICS?<\/span><\/div>\n
\"Algeria\"
Source: Reuters<\/figcaption><\/figure>\n

In\u00a0November 2022<\/a>, Algeria announced an official bid for membership in the BRICS nations. Subsequently, the country was set to join the economic bloc that already featured Brazil, Russia, India, China, and South Africa. Subsequently, the two largest nations in the collective had optimistically spoken about the country\u2019s prospect for membership.<\/p>\n

Specifically, Russia\u2019s foreign minister\u00a0Sergey Lvrov\u00a0<\/a>stated, \u201cWith its qualifications, Algeria is a leading contender,\u201d to join the bloc. Moreover, with the summit arriving in just a few months, expansion plans for the bloc feel more real now than they ever have.<\/p>\n

BRICS hasn\u2019t expanded since South Africa joined in 2011. Yet, its talks of expansion have seemingly ramped up ahead of its annual summit arriving in just a few months. Algerian president\u00a0Abdelmadjid Tebboune\u00a0<\/a>stated that \u201cmembership of BRICS is dependent on an economic condition that Algeria largely satisfies.\u201d<\/p>\n

\"BRICS
Source: Unsplash<\/figcaption><\/figure>\n

The BRICS nations make up 25% of the world\u2019s GDP and 42% of its population. Thus, a host of countries have sought to join its ranks. Moreover, Algeria\u2019s joining of BRICS could pave the way for the adoption of the incoming BRICS currency. Specifically, it is primed to be another talking point of the annual summit.<\/p>\n

Currently, Algeria is struggling economically. Specifically, its GDP of $174.2 billion in 2021 would be the smallest in the bloc.\u00a0Comparatively<\/a>, South Africa noted a GDP of $353.26 billion in that same year. This a reality that must be addressed prior to the country\u2019s acceptance<\/p>\n

Subsequently, they could experience that as a hindrance to its potential acceptance. Alternatively, it does boast a favorable geographical location and a population that is growing quickly. Ultimately, BRICS\u2019 eagerness to expand and Algeria\u2019s qualifications could make the deal beneficial for both.<\/p>\n

Source : https:\/\/watcher.guru\/news\/algeria-to-join-and-adopt-brics-currency<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

As the concept of expansion has been a consistent one for the BRICS bloc, could Algeria join and adopt the developing\u00a0BRICS currency?…<\/p>\n","protected":false},"author":50,"featured_media":68118,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[35,12],"tags":[],"class_list":["post-80727","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economie","category-economy"],"yoast_head":"\nWith the annual summit fast approaching, Algeria to Join and Adopt BRICS Currency? - AAH.JZR<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/jazairhope.org\/en\/with-the-annual-summit-fast-approaching-algeria-to-join-and-adopt-brics-currency\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"With the annual summit fast approaching, Algeria to Join and Adopt BRICS Currency? 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