Synopsis
Interestingly, Pakistan doesn’t fit into the category of emerging markets unlike other invitees to BRICS meet and its economy is staring at a major crisis like that of Sri Lanka. Pakistan may even default on loan repayments.
In a deft diplomatic move, India worked with China to block entry of Pakistan to BRICS plus event last Friday. Pakistan, in a surprise move, made attempts to enter the BRICS outreach event for emergng economies that included Algeria, Argentina, Cambodia, Egypt, Ethiopia, Fiji, Indonesia, Iran, Kazakhstan, Senegal, Uzbekistan, Malaysia, and Thailand.
However, India moved swiftly to block Islamabad. As the BRICS chair for 2022, China reportedly agreed to India, and prevented the entry of its “all-weather ally" to the BRICS outreach event, which was addressed by PM Narendra Modi. New Delhi’s position was also reportedly backed by Russia, ET has learnt.
It may be recalled that the Indian envoy to China met Foreign Minister Wang Yi ahead of the BRICS Summit to discuss a slew of bilateral and international issues.
Interestingly, Pakistan doesn’t fit into the category of emerging markets unlike other invitees to BRICS meet and its economy is staring at a major crisis like that of Sri Lanka. Pakistan may even default on loan repayments.
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