2023-09-07 15:29:15
The BRICS have entered a new era. At their 15th annual summit, discussions of dedollarization and the possible creation of a new currency took center stage.
The BRICS, which already account for 31.5% of global GDP in March 2023, have expanded with the admission of six new countries. This expansion is accompanied by ambitious plans for new monetary agreements to reduce their dependence on the US dollar.
But can the BRICS really reshape the global economic landscape? How will the desire of emerging nations for a multipolar world affect the African continent? Our Alex Reed, Jean Joseph Boillot, economist and IRIS adviser on emerging countries, sheds light on the situation.
Gabon: what implications for world oil supply?
Military leaders in oil-rich Gabon have carried out a coup, sparking a wave of political instability on the doorstep of the Organization of the Petroleum Exporting Countries (OPEC). Although concerns have been raised regarding possible supply disruptions in the Central African country, the impact of this on the oil industry globally remains unclear.
Nigeria: high energy costs and exchange rates
Nigerian businesses find themselves between a rock and a hard place. Since President Bola Tinubu’s economic reforms, business leaders have faced high energy costs and a weakening local currency.
The removal of gasoline subsidies and the unification of exchange rates had a negative impact on the economy.
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