Generally speaking, when an international organization finds itself debating its plans for membership expansion rather than more substantive agenda items, it is a sign of a group that lacks a clear mission and direction. That is certainly true in the case of the BRICS, comprising Brazil, Russia, India, China and South Africa. South Africa formally joined in 2010, turning the BRICs into BRICS, and the organization’s membership has remained stable—and acronym-friendly—until this year. In a world with far too many international organizations, most of which do very little, BRICS is notable for a few things that other organizations lack. The BRICS Development Bank offers loans to the developing world, and the organization’s Reserve Arrangement can support currencies facing liquidity crises.

Source: The North Africa Journal August 07, 2023 18:02 UTC