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South Africa to host US-Africa trade summit despite Russia spat
  + stars: | 2023-09-20 | by ( ) www.reuters.com   time to read: +3 min
South Africa's economic hub, Johannesburg, will host the U.S.-sub-Saharan Africa Trade and Economic Cooperation Forum from Nov. 2 to 4, U.S. and South African officials said in a joint statement on Wednesday. "As President Biden has said, the future is Africa," United States Trade Representative Katherine Tai said in the statement. Despite Pretoria's declared neutrality, perceived close ties between Russia and South Africa, an important U.S. trading partner in Africa, have ruffled feathers Washington. Pointing to South Africa's joint naval operations with China and Russia in February, and plans to host Russian President Vladimir Putin at a BRICS bloc summit, they also suggested South Africa's trade benefits under AGOA could be revoked. The lawmakers appeared to back up an explosive accusation by the U.S. ambassador to South Africa that a Russian vessel under sanctions collected weapons at a South African naval base last year.
Persons: Katherine Tai, Biden's, Jonathan Ernst, Biden, Tai, Pretoria's, Vladimir Putin, Putin, Ebrahim Patel, Joe Bavier, Grant McCool Organizations: Trade, REUTERS, Saharan, Saharan Africa Trade, Economic Cooperation, United States Trade, U.S . House, U.S . Senate, U.S, Thomson Locations: Washington , U.S, Russia, Washington JOHANNESBURG, South Africa, U.S, Africa, South, Johannesburg, Saharan Africa, Ukraine, Washington, China, Russian, AGOA, United States
Over the past 100 years, the global population quadrupled, from two billion to eight billion. Some will inexcusably claim that restricting reproductive choice is a way to curb long-run population decline. If an inclusive, compassionate response to population decline emerges someday, it need not be in conflict with those values. It’s in no one’s hands to change global population trajectories alone. Six decades from now is when the U.N. projects the size of the world population will peak.
Persons: demographers, Wittgenstein, Spears, Grandma, humanity’s, They’ve, birthrates, everyone’s, It’s, it’s Organizations: Human, The Institute for Health Metrics, University of Washington, University of Texas, Population Research, New York Times, White, won’t Locations: Vienna, Austin, United States, Europe, East Asia, Latin America, Guinea, Africa, China, Brazil, India, birthrates, Chile, Thailand, Canada, Germany, Japan, Saharan Africa, Israel
If so, the process of removing Prigozhin may have begun at a Kremlin meeting days after his uprising. On June 29, five days after the rebellion was called off, Putin gathered Prigozhin and his commanders in the Kremlin, according to a report in the Russian outlet Kommersant. "Reports of the meeting — and the lack of notable cases of dissension following Prigozhin's death — suggest that the meeting likely achieved its goals," Orr said. Chekalov, a senior deputy to Prigozhin, oversaw logistics, coordinating numerous Wagner activities and operations in Libya and Syria. ALEXEY DANICHEV/POOL/AFP via Getty ImagesUnder Prigozhin, Wagner amassed a business empire using lucrative concessions from governments and backers in the countries where it operated.
Persons: Yevgeny Prigozhin, Vladimir Putin, Putin, Wagner, Prigozhin, Alexei Troshev, nodded affirmatively, Matthew Orr, RANE, Orr, Dmitry Utkin, Valery Chekalov, Anton Mardasov, Mardasov, ALEXEY DANICHEV, Prigozhin's, Pavel Organizations: Service, Wagner Group, Kommersant, Reuters, French Army, Associated Press, Russia's Ministry of Defense, PMC Convoy, PMC Redut, Russian, Ministry of Defense, Getty, Belarusian Defence Ministry, Wagner PMC, SVR Locations: Wall, Silicon, Moscow, Russian, Tver, Eurasia, Prigozhin, Libya, Syria, Mali, Africa, East, Russia, Belarus, St . Petersburg, Saharan Africa, Ukraine, Osipovichi
But that programme failed to put South America's second-largest economy back on its feet. Even if he wins the Oct. 22 election and takes power in December, Milei would need alliances in Congress to push through reforms and a new IMF programme - Argentina's 23rd. That effort paved the way for the $57 billion programme, which ultimately failed and was replaced by the current one. Reuters Graphics Reuters GraphicsPREFERENTIAL TREATMENTThe current programme could end before its expiration in September 2024, but Argentina will still require funds. Without mentioning Argentina, the U.S. - holding the largest voting power in the Fund - recently raised its concerns.
Persons: Javier Milei, Agustin Marcarian, Mauricio Macri's, Mark Sobel, Milei, Sobel, Sergio Massa, Martin Muehleisen, Muehleisen, Nestor Kirchner, Stephen Nelson, Nelson, Walter Stoeppelwerth, Simon Quijano, Evans, Gemcorp Capital, Jay Shambaugh, Jorgelina, Karin Strohecker, Paul Simao Organizations: Argentine, La Libertad Avanza, REUTERS, IMF, International Monetary Fund, South, Peronist, Analysts, Graphics, Review Department, U.S ., Northwestern University, Reuters Graphics Reuters, Gletir SA, Gemcorp, Thomson Locations: La Plata, Buenos Aires, Argentina, Washington, U.S, Chicago, Zambia, Sri Lanka, Ghana, Egypt, Burundi, Saharan Africa, Rosario
More than 120 small boats arrived in Lampedusa in the span of roughly 24 hours, bringing the number of people at the local reception center to 7,000 people at one point. But consecutive arrivals on the small island in a short period of time made things difficult to manage, Di Giacomo said. Most of those boarding smugglers' boats for Europe are young men and unaccompanied minors, though women and children are seen but in smaller numbers. As soon as the weather improved, they launched more than 100 small iron boats from Tunisian beaches carrying between 30 to 40 people. Migrants pay smugglers between 1,500 and 5,000 Tunisian dinars (roughly $500-$1,600) for a spot on the dangerous boats.
Persons: Giorgia Meloni, Kais Saied, Flavio Di Giacomo, Di Giacomo, Daniel, “ It's, , Chris Borowski, Saied's, Giacomo, Ursula von der Leyen, It's, ” Abderrahim, Saied, doesn’t, , ___ Frances D'Emilio Organizations: Union, Italy's Interior Ministry, International Organization for, WHO, IOM, Border, Coast Guard Agency, Global, Transnational, EU Locations: BARCELONA, Spain, Lampedusa, Tunisia, Italy, North Africa, Italian, Europe, Ukraine, Ivory Coast, Guinea, Cameroon, Burkina Faso, Mali, Libya, Egypt, Eritrea, Sudan, Sfax, Tunisian, African, Greece, Rome
It’s a scary day for moms, right?” French Gates said. Tragically, those solutions aren’t reaching families in the communities where mothers and kids need them most,” said Bill Gates and French Gates in the report’s introduction. Gates and French Gates also noted the increasing rates of maternal deaths in the U.S. and United Kingdom and the racial disparities in those deaths. French Gates spoke with outrage about the harrowing experience tennis star Serena Williams described after giving birth to her first daughter and suffering multiple complications, which endangered her life. It was almost like a slap in the face,” said French Gates.
Persons: — Melinda French Gates, Gates, Melinda Gates, Jennifer, Leila — Jennifer's, , , Rasa Izadnegahdar, , “ It’s, Bill Gates, French Gates, Mark Suzman, recommit, Suzman, Tom Kenyon, they’re, Izadnegahdar, there’s, ’ ”, Black, Serena Williams, Tori Bowie, aren’t, we’ve Organizations: Melinda Gates Foundation, Associated Press, Sustainable, United Nations, Child Health, World Health Organization, General Assembly, Gates Foundation, American Medical Association, Lilly Endowment Inc, AP Locations: U.S, French, Ukraine, Saharan Africa, South Asia, United Kingdom
has not released more recent numbers, and there is limited data on exactly how much of this comes from India. The global drug supply system is a vast and complex network. As of 2021, India manufactured 62 percent of the raw materials for drugs, known as active pharmaceutical ingredients. in 2001 set up a groundbreaking program to monitor safety and quality, called the Prequalification of Medicines Program or P.Q.P., which set global standards for H.I.V. The program is one of those unsung policies that keep the global health structure ticking.
Persons: , Cipla Organizations: World Health Organization, Medicines Program Locations: India, China, United States, Europe, Sri Lanka, Gambia, Africa —, Saharan Africa, Indian
At the Nairobi orphanage, program manager Paul Mulongo has a message for Washington. Without that, the virus could come back, ”and about 20 million lives might be lost in the coming years,” he said. But Reach Out helps anyone who walks in needing HIV drugs, Kaleebi said. “Sometimes it’s so crazy when you hear people saying that these HIV drugs should be bought by the local government,” he said. Some are among the 1.4 million children and adults living with HIV in Kenya, according to UNAIDS.
Persons: George W, Bush, Paul Mulongo, , Mulongo, , Tom Hart, PEPFAR, Biden, Chris Smith, Smith, ” Smith, John Nkengasong, we’ve, Josephine Kaleebi, ” Kaleebi, Kaleebi, Mark Dybul, Bernard Mwololo, David Shitika, “ Nobody, ” Shitika, ” ___ Amiri, Knickmeyer, Rodney Muhumuza Organizations: Republican U.S, President’s, AIDS Relief, Republicans, Democrats, ONE, Heritage Foundation, State Department, ” Conservatives, PEPFAR, Republican, Foreign, Associated Press, AP, Health Initiative, Uganda’s Catholic, AIDS, UNAIDS Locations: NAIROBI, Kenya, United States, Africa, Ukraine, Brazil, Indonesia, Nairobi, Washington, , Uganda, Kampala, Russia, China
CNN —Mary Achieng’s family is in the malaria ward at Nightingale Hospital in western Kenya almost every month. Mary Achieng and her child on the malaria wars at the Nightingale Hospital in western Kenya. Now with the introduction of the world’s first malaria vaccine, hailed as a breakthrough, there is talk of one day reaching eradication. So it’s a bitter irony that as Kenya celebrates hard-earned gains, new malaria species and cases are popping up in areas historically deemed low-risk. We are seeing [malaria] going to places where we didn’t expect,” she said.
Persons: Mary Achieng’s, she’s, , haven’t, Achieng, Mary Achieng, Fred Ooko, Steve Ngugi, Jackson Njehia, Gitahi Githinji, Richard Munang, Ruth Kavere, Faith, Yasuyoshi Chiba, Damaris, , Muhia Organizations: CNN, Nightingale, Malaria, Kenya Medical Research Institute, International, of, Physiology, Reuters, Health Locations: Kenya, Kisumu, Africa, Nairobi, Health Africa, , Saharan Africa, Mukuli, AFP, Ghana, Malawi
He will have at least one advantage: Chinese President Xi Jinping will not be at the meetings. "But the question ... is whether the United States will be able to step up." FAST GROWTH, HIGH DEBTChinese Premier Li Qiang will represent China at the G20 as its leaders cope with sagging growth and a possible property debt crisis. For his part, Xi is also finding new ways to engage the developing world, hosting a gathering of Central Asian leaders and discussing development in May. Xi is also expected to attend an Asia-Pacific Economic Cooperation (APEC) summit in San Francisco in November, where he may meet with Biden.
Persons: Joe Biden, Leah Millis, Biden, Xi Jinping, Zack Cooper, Li Qiang, Vladimir Putin, Sergei Lavrov, Jake Sullivan, Donald Trump's, Sullivan, White, Khulu Mbatha, Cyril Ramaphosa, Trevor Hunnicutt, Nandita Bose, Michael Martina, Carien du, Don Durfee, Grant McCool Organizations: Warehouse Union, Pacific Maritime Association, White, REUTERS, Rights, World Bank, Bank, U.S, Partnership for Global Infrastructure, Investment, American Enterprise Institute, IMF, Global, White House, Trump, Republican, South, Central Asian, United, United Arab Emirates, Economic Cooperation, Biden, Thomson Locations: Washington , U.S, India, United States, Africa, Latin America, Asia, Washington, China, Russian, East, Central Asia, Saharan Africa, People's Republic, Ukraine, Brazil, South Africa, Beijing, Moscow, Russia, Saudi Arabia, Iran, Ethiopia, Egypt, Argentina, United Arab, San Francisco, Carien du Plessis, Johannesburg
Renewable energy is more reliable but its promise for the region still remains largely unmet. Most households have depended on gasoline generators for power, but recently the government removed a gasoline subsidy, prompting increased interest in solar power, according to dealers. The Nigerian government has not announced incentives to promote solar energy, such as reducing import taxes on solar equipment as demanded by dealers. “The problem was affordability, but now customers can pay installments over a period of 18 months,” said Tunde Oladipupo, an agent for Sun King, a solar power company. Another example of this shift is the Ford vehicle assembly plant in Silverton, Pretoria, which currently sources over 35% of its electricity from solar power.
Persons: Rashmi Shah, , William Ruto, Tunde Oladipupo, Sun King, Monsurat Qadri, ” Qadri, ” Mohammed Ettu, Shah, ” Shah, ___ Adebayo, Magome Organizations: Climate Summit, World Bank, CP Solar’s, Associated Press, Kenyan, Solutions, Ford, South, CP, Kenya Power, Lighting Company, Supersport, AP Locations: NAIROBI, Mombasa, Nairobi, Kisii County, Kenya, Africa, Nigeria, Oyo, Lagos, Saharan Africa, South Africa, Stillwater, American, Silverton , Pretoria, Mpumalanga, Kenya —, Abuja, Johannesburg
For years, the Office of the Inspector General has reviewed PEPFAR’s practices and has never discovered misappropriation of funds for abortion. Over the last 20 years, this ambitious program has saved 25 million lives in 55 countries, most of which are in Africa. PEPFAR also has fortified education systems, helping girls stay in primary school, and stimulated economic growth in recipient countries. Faith leaders from the United States and around the world, including those who oppose abortion, have recently written letters calling for reauthorization. Despite the impressive successes of PEPFAR, we still have a way to go in the fight against AIDS.
Persons: Helms, Shepherd Smith, PEPFAR Organizations: reauthorization, AIDS Locations: Africa, United States, Saharan Africa
Companies Climate FollowVitol SA FollowNAIROBI, Sept 4 (Reuters) - An initiative to boost Africa's carbon credit production 19-fold by 2030 drew hundreds of millions of dollars of pledges on Monday as Kenyan President William Ruto opened the continent's first climate summit. In one of the most anticipated deals, the United Arab Emirates (UAE) committed to buying $450 million of carbon credits from the Africa Carbon Markets Initiative (ACMI). "There hasn't been any success for an African country in attracting climate finance," said Bogolo Kenewendo, a United Nations climate adviser and former trade minister in Botswana. Many African campaigners have opposed the summit's approach to climate finance, and about 500 people marched in downtown Nairobi on Monday to protest. They say carbon credits are a pretext for continued pollution by wealthier countries and corporations, who should instead pay their "climate debt" through direct compensation and debt relief.
Persons: William Ruto, Ruto, Bogolo Kenewendo, Bogolo, Kevin Kariuki, Patricia Scotland, Esa Alexander, we've, Hassan Ghazali, Britain, Sultan Al Jaber, COP28, Duncan Miriri, Simon Jessop, Jefferson Kahinju, Aaron Ross, Hereward Holland, Angus MacSwan, Susan Fenton Organizations: United Arab Emirates, Africa Carbon Markets, United, African Development Bank, Reuters, International Monetary Fund, REUTERS, Climate Asset Management, HSBC Asset Management, Debt, Green, Thomson Locations: NAIROBI, UAE, Nairobi, Africa, United Nations, Botswana, Muloza, Mozambique, Blantyre, Malawi, Liberia, Tanzania, Germany, Kenya
CNN —Spiro, a startup looking to eliminate fuel-guzzling motorbikes and scooters from the roads by trading them in for electric two-wheelers, is expanding to Kenya. Ahead of the first Africa Climate Summit, which kicked off in Kenya’s capital Nairobi today, the host government announced on Friday that the e-bike and battery-swapping startup would be entering the East African country with its biggest deployment yet: 1.2 million electric vehicles. In Kenya, they will be offered 50,000 Kenyan shillings (about $344) – around a third of the price of a new electric bike – to swap their existing bike for an electric one. Last week, US company Uber also launched an electric motorbike service in Kenya, promising to roll out 3,000 bikes within six months. “We’re surpassing the symbolic but significant milestone of one million electric bikes signed with a government,” says Samain.
Persons: CNN — Spiro, Jules Samain –, polluters, Samain, Spiro, CLEMENT, CLEMENT DI ROMA, , ” Spiro, William Ruto, Ampersand, Uber Organizations: CNN, Africa Climate, CLEMENT DI, AFP, Getty, FIA Foundation, Spiro, McKinsey Locations: Kenya, Africa, Kenya’s, Nairobi, West, Benin, Togo, Rwanda, Uganda, China, Mombasa, Saharan Africa, Swedish, Kenyan, East
But according to some industry experts, it’s not too early to start thinking about – and perhaps even booking – next year’s trip. But Keyes generally advises travelers not to necessarily hit that purchase button as soon as an airline opens up a flight for booking. “While it’s relatively common knowledge that last-minute fares are expensive, what’s far less known is that it’s also possible to book flights too early,” he says. From the hospitality industry perspective, advance booking can help hoteliers and other businesses adjust staffing, pricing and other factors to offer a better experience. While Cabutti of JW Marriott Venice Resort & Spa acknowledges that “the early booking trend results in higher room rates,” it also enables businesses to better meet guests’ needs.
Persons: it’s, they’ve, ” Dino Triantafillou, Triantafillou, ” Triantafillou, Cristiano Cabutti, “ We’re, ” Cabutti, , Stephanie Bias, Camp Aramoni, , , Scott Keyes, ” Keyes, Keyes, Sally French, you’re Organizations: CNN, Labor, CNN Travel, Global, JW Marriott, Marriott, SDI, US State Department, Centers for Disease Control Locations: Italy, Tonica , Illinois, United States, Madrid, Santorini, Europe, Asia, Hopper’s, Saharan Africa, JW, Venice
[1/5] Uber boda boda riders prepare to ride the first fleet of the company's electric product during their launch in Nairobi, Kenya, August 31, 2023. REUTERS/Monicah Mwangi Acquire Licensing RightsCompanies Uber Technologies Inc FollowNAIROBI, Aug 31 (Reuters) - Ride-hailing firm Uber (UBER.N) on Thursday launched an electric motorbike service in Kenya, its first in Africa, as the company seeks to make its global platform emissions free by 2040. Uber's new green product in Kenya, dubbed Electric Boda in a nod to the Swahili term for motorbike taxis, will comprise 3,000 bikes within six months, or just under a fifth of its fleet. The growth of the electric vehicles market in Africa has been slowed by a lack of adequate electric charging infrastructure and associated equipment. Motorbike transport is a big employer in Kenya, absorbing millions of people who are unable to secure formal jobs.
Persons: Monicah, Uber, Kagiso Khaole, Khaole, William Ruto, Duncan Miriri, Aaron Ross, Alex Richardson Organizations: REUTERS, Technologies, Thomson Locations: Nairobi, Kenya, NAIROBI, Africa, Nigeria, Ivory Coast, Ghana, Uganda, Tanzania, South Africa, Saharan Africa
Local resident Lubov, 71, carries goods received during a food aid distribution in the village of Lymany, Mykolaiv region, on Jan. 28, 2023, amid the Russian invasion of Ukraine. WASHINGTON — America's top spy agency says Russia's war in Ukraine has disrupted global food security and triggered not only higher prices but also political instability in some of the world's most vulnerable countries. The Office of the Director of National Intelligence, which oversees the nation's 18 intelligence agencies, warned that countries located in sub-Saharan Africa, Afghanistan, Pakistan, Syria and Yemen are particularly susceptible to political instability as a result of food insecurity. "The combination of high domestic food prices and historic levels of sovereign debt in many countries, largely caused by spending and recessionary effects of the Covid-19 pandemic, has weakened countries' capacity to respond to heightened food insecurity risks," ODNI wrote in the assessment. The Kremlin has previously denied that its troops in Ukraine targeted civilian infrastructure and engaged in looting.
Persons: WASHINGTON —, ODNI Organizations: WASHINGTON, National Intelligence, Congress Locations: Lubov, Lymany, Mykolaiv, Ukraine, Saharan Africa, Afghanistan, Pakistan, Syria, Yemen, Russian
Inclusive, global trade is the keyFree trade can help lower the cost of energy transition. Deloitte's outlook showcases a steady hydrogen market growth, from $642 billion in annual revenue in 2030 to $1.4 trillion per year in 2050, in which green hydrogen comprises some 85% of the hydrogen market. Global trade between major regions can represent almost one-fifth of total clean hydrogen volume. The opportunity for developing economiesRegions with high renewable endowment and ample land availability could likely produce cost-competitive green hydrogen in quantities that exceed domestic needs. To find out more, read Deloitte's Green hydrogen: Energizing the path to net zero report.
Organizations: Government, Global, North, Deloitte Global, SAF, Deloitte Investments, Deloitte, Insider Studios, Deloitte Touche Tohmatsu Locations: North Africa, Australia, North America, East, South America, Africa, Japan, Korea, Europe, China, India, Middle East
As with so many infectious diseases, lack of determination is the real stumbling block. The United States and other donor nations could argue that we already do more than our share, contributing billions annually to the fight against TB and other infectious diseases. The realities of modern travel mean that none of us is protected from a TB resurgence until we have protected people everywhere. That ought to serve as a reminder that an estimated 247 million cases of malaria occurred worldwide in 2021, and 619,000 people died. They have eliminated wild poliovirus from major cities and Taliban-dominated regions where it was still circulating just a few years ago.
Persons: specter Organizations: Centers for Disease Control, World Health Organization, Malawi — Locations: United States, Great, Texas, Florida, Saharan Africa, South Asia, El Salvador, China, Africa — Ghana, Kenya, Malawi, Pakistan, Afghanistan
Some investors and economic analysts are sceptical that expansion will lead to increased foreign direct investment (FDI) within the bloc. Still, BRICS leaders and other investors touted the increased economic heft from the expansion. Increasing use of national currencies to reduce U.S. dollar dependence was another goal BRICS leaders discussed at the summit in Johannesburg. And with oil producer heavyweights among the newcomers, investors said this would feed speculation that Saudi Arabia might increasingly switch to non-dollar-denominated currencies for oil trade. "The short-term consequences could be seen in oil," said Kaan Nazli, a portfolio manager at asset manager Neuberger Berman in London.
Persons: Brazil Luiz Inacio Lula da Silva, China Xi, Cyril Ramaphosa, India Narendra Modi, Sergei Lavrov, Viktor Szabo, Li Kexin, Ola El, Chris Turner, Jakob Ekholdt Christensen, Hasnain Malik, abrdn's Szabo, Kaan Nazli, Neuberger Berman, Rachel Savage, Karin Strohecker, Bansari Mayur, Marc Jones, Jorgelina, Emelia Sithole Organizations: Russia's, Iran, United Arab Emirates, abrdn, Emerging Markets, ING, Reuters Graphics, China, International Monetary Fund, Thomson Locations: China, India, Sandton, Saudi Arabia, UAE, Iran, JOHANNESBURG, LONDON, Argentina, Brazil, Russia, South Africa, Ethiopia, Egypt, Johannesburg, United States, Saudi, London, Van Eck, New York, Copenhagen, Dubai, Bangalore, Rosario
Marco Longari/Pool via REUTERS Acquire Licensing RightsJOHANNESBURG, Aug 24 (Reuters) - Indian Prime Minister Narendra Modi spoke to China's President Xi Jinping on the sidelines of the BRICS summit in Johannesburg and highlighted concerns India has about border issues along the Line of Actual Control (LAC), India's foreign secretary said. Modi and Xi agreed "to direct their relevant officials to intensify efforts at expeditious disengagement and de-escalation," Foreign Secretary Vinay Kwatra said. On the sidelines of the BRICS summit Modi highlighted to Xi "India's concerns on the unresolved issues along the LAC", Kwatra said. This is the first time that Modi has brought up the issue directly with Xi, repeating India's stand that has been shared with China through other ministers multiple times. "The two sides should bear in mind the overall interests of their bilateral relations and handle properly the border issue so as to jointly safeguard peace and tranquillity in the border region," Xi said.
Persons: India Narendra Modi, Cyril Ramaphosa, China Xi Jinping, Marco Longari, Narendra Modi, Xi Jinping, Modi, Xi, Vinay Kwatra, Kwatra, Bhargav Acharya, Tannur Anders, Michael Martina, Krishn Kaushik, Jonathan Oatis Organizations: REUTERS Acquire, Rights, Indian, LAC, Xinhua, Shanghai Cooperation, Thomson Locations: India, China, Sandton, Johannesburg, Rights JOHANNESBURG, Indonesia
BRICS - whose acronym was originally coined by an economist at Goldman Sachs, currently comprises Brazil, Russia, India, China and South Africa. Ethiopian Prime Minister Abiy Ahmed called the BRICS leaders' decision to invite Ethiopia to join "a great moment". "It shows the determination of BRICS countries for unity and cooperation with the broader developing countries." More than 40 countries have expressed interest in joining BRICS, say South African officials, and 22 have formally asked to be admitted. "The expansion and modernization of BRICS is a message that all institutions in the world need to mould themselves according to changing times," he said.
Persons: Cyril Ramaphosa, Narendra Modi, Sergei Lavrov, Alet Pretorius, Goldman Sachs, BRICS, Luiz Inacio Lula da Silva, Ramaphosa, Lula, globalisation's, Mohammed bin Zayed, Abiy Ahmed, Antonio Guterres, Xi Jinping, Bhargav Acharya, Sergio Goncalves, Ethan Wang, Vladimir Soldatkin, Joe Bavier, Toby Chopra, Emelia Organizations: South, India's, Russia's, REUTERS, United Arab, United, United Arab Emirates, New Development Bank, Ethiopian, United Nations, . Security, International Monetary Fund, World Bank, BRICS, Indian, Thomson Locations: Johannesburg, South Africa, Saudi Arabia, Iran, Ethiopia, Egypt, Argentina, UAE, JOHANNESBURG, United Arab Emirates, Brazil, Russia, India, China, Ukraine, United States, Beijing, Moscow, United Arab, Lisbon
Leslie Maasdorp, Vice President and chief financial officer (CFO) of New Development Bank (NDB), speaks during an interview with Reuters at the bank's headquarters in Shanghai, China July 10, 2023. REUTERS/Aly Song/File Photo Acquire Licensing RightsJOHANNESBURG, Aug 23 (Reuters) - The New Development Bank of the BRICS group of nations will not be announcing new members at the BRICS Summit in South Africa this week, its Chief Financial Officer Leslie Maasdorp told Reuters on Wednesday. The bank, which was set up in 2015 to give BRICS members Brazil, Russia, India, China and South Africa a greater say in financing infrastructure than in Western-led institutions like the World Bank, is keen to attract new members to boost its capital base after U.S. sanctions on Russia hobbled its lending. "The process of ratifying new countries is happening at the discussion of the (BRICS) leaders, which they are having without us as the bank," Maasdorp told Reuters in an interview on the sidelines of the summit. ($1 = 94.4650 roubles)Reporting by Rachel Savage; Writing by Bhargav Acharya; Editing by Alexander Winning and Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.
Persons: Leslie Maasdorp, Aly, Maasdorp, Rachel Savage, Bhargav Acharya, Alexander Winning, Emelia Organizations: New Development Bank, Reuters, REUTERS, Rights, World Bank, United, United Arab Emirates, U.S ., Thomson Locations: Shanghai, China, Rights JOHANNESBURG, South Africa, Brazil, Russia, India, Western, Egypt, Bangladesh, United Arab, Saudi Arabia, Algeria, Argentina
Delegates walk past the logos of the BRICS summit during the 2023 BRICS Summit at the Sandton Convention Centre in Johannesburg, South Africa on August 23, 2023. WHY DOES LULA WANT A BRICS CURRENCY? A BRICS currency "increases our payment options and reduces our vulnerabilities," he told the summit's opening plenary session. In July, India's foreign minister said, "there is no idea of a BRICS currency". WHAT ARE THE CHALLENGES OF SETTING UP A BRICS CURRENCY?
Persons: GIANLUIGI, Luiz Inacio Lula da Silva, LULA, doesn't, Vladimir Putin, Xi Jinping, Lesetja Kganyago, you've, Kganyago, Herbert Poenisch, Putin, Rachel Savage, Ethan Wang, Marcela Ayres, Gabriel Stargardter, Naomi Rovnick, Libby George, Marc Jones, John Stonestreet Organizations: REUTERS Acquire, Rights, Mercosur, South, Zhejiang University, Federal Reserve, FX, International Monetary Fund, Bank of International, Thomson Locations: Sandton, Johannesburg, South Africa, Rights JOHANNESBURG, Brazil, Russia, India, China, Russian, videolink, African, Ukraine, Beijing, Brasilia, Rio de Janeiro, London
A person walks past the Sandton Convention Centre, which will host the upcoming BRICS Summit, in Johannesburg, South Africa August 19, 2023. South African summit organisers, however, say there will be no discussions of a BRICS currency, an idea floated by Brazil earlier this year as an alternative to dollar-dependence. Russian President Vladimir Putin, wanted under an international arrest warrant for alleged war crimes in Ukraine, will not travel to South Africa and instead join virtually. South Africa has also voiced support. Over 40 countries have expressed interest in joining BRICS, say South African officials.
Persons: James Oatway, Cyril Ramaphosa, Xi Jinping, Brazil's Luiz Inacio Lula da Silva, Narendra Modi, Vladimir Putin, Vinay Kwatra, Bhargav Acharya, Joe Bavier, Andy Sullivan Organizations: Sandton, REUTERS, Indian, China, BRICS, Thomson Locations: Johannesburg, South Africa, JOHANNESBURG, Brazil, Russia, India, China, Ukraine, United States
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