South Africa Becoming Member of BRICS consequences

The government is in a bind as a result of South Africa's membership in BRICS, the group of important emerging markets on which it is pinning its economic and diplomatic future. 

 Its alternatives all come at a price. 

It gains a more prominent position on the international diplomatic scene by accepting the invitation to host a summit of the group's leaders. Pretoria will be at odds with the US and the European Union, two of its main commercial partners, as well as its own courts if Vladimir Putin, the president of member Russia, shows up for the conference in August. 

For the economy, the repercussions are already evident. 

Unease was raised by South Africa's failure to denounce Russia's invasion of Ukraine and holding of military drills with Moscow's fleet. The currency and bonds fell last month after the US ambassador claimed that Pretoria had transported guns to the nation.


The rand then hit a new low after a state notice granted diplomatic immunity to participants in this week's heads of state summit and BRICS foreign ministers conference in Cape Town.

The decision, in accordance with the foreign ministry, was merely a formality and has no bearing on South Africa's commitments as a party to the International Criminal Court to extradite Putin for crimes connected to the conflict in Ukraine.



Location: India

Comments

Post a Comment

Popular posts from this blog

Government sector VS Private Sector

 Depending on personal viewpoints and societal standards, people may perceive the government sector to be more valuable than the private sector. While some people could place a larger value on the public sector, others would place a higher value on the private sector. In some situations, the government sector may be seen as having higher value for the following reasons: 1. Public Service: Providing vital public services like healthcare, education, infrastructure development, and public safety is frequently connected with the government sector. These services are thought to be essential for society's overall progress and well-being. As a result, the labour done by government employees to provide these services is frequently perceived as directly helping the broader public and is thus highly valued. 2. Stability and Security: Compared to the private sector, government positions are often thought to offer greater stability and job security. Regular pay schedules, pensions, and legal
Read more

Types of Loans for Professionals

Image
  As a working professional, you may encounter situations where you need extra funds to meet your financial obligations or make a big purchase. In such cases, obtaining a loan can be a viable option if you can't afford the expense upfront. However, with the multiple types of loans available in the market, it can be challenging to pick the best one for your requirements. Knowing the various loan types and their features can help you make an informed decision. Unsecured Loan An unsecured loan is a type of loan that doesn't require collateral to secure the loan. This means that the lender won't ask for your assets such as a property, car, or investments as security for lending you funds. Unsecured loans are often preferred by professionals who don't have physical assets that can be pledged to secure the loan. Unsecured loans often have higher interest rates compared to secured loans since there is more risk involved for the lender. These loans are typically offered for ind
Read more

Love And Breakup

 The separation between two people is not the result of a single day's decision, but rather the accumulation of many choices and circumstances. As I sit here, staring out at the vast expanse of the ocean, I can't help but think about the distance between us. It's been weeks since we last spoke, and the emptiness inside me grows with each passing day. It wasn't always like this. We used to be inseparable, bound together by a deep love that seemed unbreakable. But as time went on, our paths began to diverge, and the things that once brought us together started to push us apart. I can't pinpoint the exact moment when things began to change. Perhaps it was the arguments that we couldn't resolve, or the missed opportunities that we couldn't get back. Maybe it was the choices we made that seemed right at the time but ultimately led us down different roads. Whatever the cause, the result is undeniable. The distance between us is more than just physical. It's a
Read more