<\/div>\n

The core collection consists of Brazil, Russia, India, China, and South Africa \u2013 and a surge of nations interested in joining the alliance would bring the total number of nations to 24.<\/p>\n

That\u2019s according to South Africa\u2019s BRICS ambassador, Anil Sooklal, who tells Bloomberg that a long list of nations is now looking to join in.<\/p>\n

Sooklal says the list includes 13 countries that have formally asked to join and an additional six countries that have informally requested to be part of the alliance.<\/p>\n

The group of known newcomers includes Saudi Arabia, Iran, Argentina, the United Arab Emirates, Algeria, Egypt, Bahrain, and Indonesia, two unnamed nations from East Africa, and one from West Africa.<\/p>\n

BRICS was formed back in 2006, and the original group did not include South Africa, which joined in 2010.<\/p>\n

According to the Russian state-owned news agency Sputnik, BRICS is in the early stage of developing a new global currency that would circumvent the US dollar.<\/p>\n

Russian State Duma Deputy Chairman Alexander Babakov says the new form of fiat will likely be backed by other assets, including precious metals like gold.<\/p>\n

Additional details are likely to emerge by the summer, with the next BRICS summit set for South Africa in late August.<\/p>\n

<\/p>\n

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