Informal discussions have begun among the ranks of the government in Ghana to investigate whether or not it would be possible for the country to join the BRICS economic grouping.
The traditional economic alliance consisting of Brazil, Russia, India, China, and South Africa, which together account for over forty percent of the world’s population, has announced that it is undertaking an outreach effort in order to accommodate additional growing economies, particularly those in Africa.
Concerns were raised when President Akufo-Addo became the first Ghanaian president to join over 40 other heads of state to attend the 15th BRICS Summit. These concerns center on whether or not the country is turning its back on the foreign policy of positive neutrality, which saw the country in the past not aligning with any of the world’s superpowers. President Akufo-Addo became the first Ghanaian president to do so.
Akufo-Addo exploring feasibility of Ghana joining BRICS
According to information obtained by JoyNews, recent economic developments on a worldwide scale have prompted discussions inside the government of Ghana’s current president, Nana Addo Dankwa Akufo-Addo, regarding the possibility of Ghana following in the footsteps of its West African neighbour Nigeria, which recently submitted an application to join the BRICS.
There is a great deal of speculation that China, which controls more than a third of Ghana’s external debt, which totals approximately $1.7 billion, could be the driving force behind Ghana’s decision to join the BRICS.
Charles Owiredu, Ghana’s High Commissioner to South Africa, shared an exclusive interview on the sidelines of the summit held in Johannesburg, South Africa, with Blessed Sogah of JoyNews. He stated that the decision to join or not will be based on what is in the best interest of the nation.
He pointed out that “there is no question in anyone’s mind that BRICS is now a force to be reckoned with. According to what he said, “If you look at the countries it started with, which were only four, today we’ve been told that they met and have accepted six more [Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates].”
“The combined GDP of these 11 countries is now equivalent to 30 percent of the GDP of the entire world, which means that they are a force to be reckoned with.”
Mr. Owiredu responded, “We’ve been discussing amongst ourselves since the president came,” in response to a question about whether or not Ghana was contemplating submitting an official application to become a member of the Economic Bloc.
“There’s been some discussions that we started looking at some opportunities that exist within the BRICS,” one of the speakers said, “you know already they do have the development bank that countries have started accessing credit and it is helping a lot of countries to develop.
Another speaker added, “There’s been some discussions that we started looking at some opportunities that exist within the BRICS. Although the president has begun to look into it, “a decision has not been taken yet.”
The High Commissioner, on the other hand, put an end to rumours that Ghana is being enticed to join BRICS by the actions of other West African countries like Nigeria, which have formally applied to become members of BRICS. The High Commissioner added that whatever decision the president ultimately comes to, it will be driven entirely by the requirements of the Ghanaian people.