5. BRICS has surpassed G7 in terms of GDP calculated on purchasing power parity. According to Acorn Macro Consulting, BRICS countries now contribute 31.5 per cent to the global GDP and the G7 30.7 per cent.
6. Argentina will pay for Chinese imports in yuan instead of US dollars in order to preserve its dwindling foreign reserves, Economy Minister Sergio Massa announced.
7. Nineteen countries expressed an interest in joining the BRICS, among them Saudi Arabia, Iran, Argentina, the United Arab Emirates, Algeria, Egypt, Bahrain and Indonesia, but also African countries.
8. The idea of the BRICS adopting its own currency is likely to be on the agenda of the meeting of heads of state in Johannesburg on August 22.
9. Saudi Arabia is in talks to join the Shanghai-based New Development Bank, also known as the „BRICS Bank,” Financial Times reported on 28 May.