IMF supports BRICS enlargement
Date
9/18/2024 8:47:29 AM
(MENAFN) The International Monetary Fund (IMF) has expressed strong support for the expansion of BRICS, with spokesperson Julie Kozack emphasizing the potential global benefits of this growth during a press briefing on Friday. Her comments came in response to inquiries about Turkey's recent application to join the group, indicating that the IMF views an expanding BRICS as a positive development for international cooperation.
Founded in 2009 by Russia, China, India, and Brazil, BRICS welcomed South Africa into its fold the following year. The group further expanded in 2024 to include Egypt, Iran, the United Arab Emirates, and Ethiopia. Recently, Turkey became the latest nation to formally apply for membership, indicating a growing interest in the bloc.
President Vladimir Putin of Russia noted earlier on Friday that approximately 34 countries have shown interest in joining BRICS, and discussions regarding potential partnerships are ongoing. This broad interest highlights the increasing relevance of BRICS on the global stage.
When asked about any potential dangers associated with BRICS, Kozack responded that the IMF welcomes improved international cooperation and the deepening of trade and investment ties among countries. She emphasized that such initiatives could help reduce economic fragmentation and lower trade costs among member nations. "The decision to join such initiatives is a sovereign decision of each member country," she added, underscoring the importance of national autonomy in such matters.
Turkey has made clear its intention to establish relations with various international organizations, including BRICS and the Shanghai Cooperation Organization (SCO), while maintaining its commitments to NATO. This dual engagement reflects Ankara's strategic approach to international relations.
As the dialogue surrounding BRICS expansion continues, the IMF's endorsement may serve to bolster the group's appeal and further integrate it into the global economic landscape. The organization’s commitment to supporting international cooperation aligns with the aspirations of BRICS to enhance its role in global governance and economic collaboration.
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