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BRICS has the potential to challenge the current “archaic” global financial architecture, says Ethiopian Foreign Ministry Spokesperson


Speaking on the benefits of BRICS membership for African countries, including Ethiopia, which joined the bloc in January, Ambassador Nebiyu Tedla emphasized that engagement with BRICS should focus on advancing African countries’ own development agendas.

“It is crucial for the African countries to ensure that any engagement with BRICS is aligned with their long-term economic and development objectives and that it does not lead to unsubstantial debt burdens or any other compromise that we used to see in the past,” he told Sputnik Africa.

The spokesperson also voiced support for the growing trend, championed by BRICS, of using national currencies for trade, citing its potential to protect countries from external economic pressures.

“Using national currencies for trade can help shield countries from external economic pressures, such as sanctions or restrictions on access to foreign currencies,” Tedla stated.

Regarding Ethiopia’s strategic role in regional development, the diplomat highlighted the country’s potential to become a key transit hub for North-South transport corridors, pointing to the planned highway connecting Ethiopia and South Sudan.

He also emphasized the potential contributions of BRICS nations in this endeavor. “BRICS nations possess, we believe, advanced technologies and expertise. They can share their best practices by providing technical assistance and transferring knowledge to support the development of efficient and sustainable transport corridors in the region.”

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