BRICS foreign ministers’ meeting starts in Cape Town today, local currency trade likely on agenda

News Snapshot:

New Delhi: External Affairs Minister S. Jaishankar will join fellow foreign ministers from the emerging economies of Brazil, Russia, India, China and South Africa (BRICS) in Cape Town Thursday where local currency trading is among the topics likely to dominate discussions. South Africa, which currently chairs the bloc, is hosting the BRICS foreign ministers’ meeting in Cape Town from 1-2 June. Analysts say China may push its 12-point peace plan for the Russia-Ukraine war at the meeting, but it is unlikely to find “consensus”. The meeting will pave the way for the 15th BRICS summit later in August, which is...