After the NPP government was established recently, there have been a lot of rumours and misleading information which are being spread on social media, targeting their policies, etc.
Social Media Posts
Social media posts claim that Sri Lanka’s application to join BRICS (Brazil, Russia, India, China, and South Africa) was rejected
Some websites also reported it.
We decided to do a fact-check on this.
Fact Check
Claim Verification:
The claim about Sri Lanka’s application to join BRICS is accurate. Sri Lanka applied for membership during a BRICS summit, but spokespersons for the Sri Lankan government have confirmed that BRICS countries decided against admitting new members at this time. Not only Sri Lanka, a few other countries also applied and none of them were accepted.
BRICS currently consists of nine members (Brazil, Russia, India, China, South Africa, Saudi Arabia, UAE, Argentina, and Egypt) and has paused expanding its membership further as of the recent summit. Apart from member countries, there are some partner countries too. Some partner countries are Belarus, Bolivia, Cuba, Indonesia etc. While some other countries including Sri Lanka are waiting for membership. More details about it can be read here
While some countries like Argentina withdrew from BRICS membership, countries like Algeria`s request to join with BRICS membership were rejected . More details can be read here
NDB Membership:
Sri Lanka’s application to join the NDB, a development bank established by BRICS to support infrastructure and sustainable development projects, was accepted. NDB membership, which includes non-BRICS nations, offers emerging economies access to alternative funding sources outside Western-dominated financial institutions like the IMF and the World Bank.
The NDB’s decision is now with Sri Lanka’s Finance Ministry, which will review it before presenting it to the Cabinet for final approval.
Official Statements:
Cabinet Spokesman Vijitha Herath clarified on November 6 that BRICS did not accept Sri Lanka’s bid for full membership but accepted the application for NDB membership. He explained that Sri Lanka had pursued BRICS membership by October, gaining support from foreign ministers of several BRICS nations, but the summit ultimately chose not to expand. He further stated not only Sri Lanka, but some other countries also applied, but none of them were approved by this time.
(Watch from one hour and 31 minutes )
On November 10, the Sri Lankan Foreign Ministry issued a statement affirming that while full BRICS membership was deferred, Sri Lanka’s application would be considered at a later date.
The Russian Embassy in Colombo also confirmed this, indicating that BRICS applications would be reviewed “in due course.”
Context:
Established in 2015, the NDB serves as a multilateral funding alternative aimed at reducing member nations’ reliance on Western financial institutions. BRICS members have aimed to reduce their dependence on the U.S. dollar, focusing instead on local currency trade settlements. These efforts highlight a broader strategic intention within BRICS to challenge U.S. and Western dominance in global finance and trade.
Sri Lanka was also interested in joining with BRICS. However, the country did not apply to it earlier. Foreign minister of former president Ranil Wickremesinghe`s government Ali Sabry expressed his interest in joining BRICS. More details about it can be read here
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Conclusion
The claim that Sri Lanka’s BRICS membership application was rejected is misleading. However, Sri Lanka’s application for NDB membership was approved and awaits final consideration by the Finance Ministry and Cabinet. BRICS has postponed membership expansion, but the Foreign Ministry indicates that Sri Lanka’s application might be revisited in the future.
Title:Has Sri Lanka’s Application to BRICS Membership Been Rejected?
Written By: Fact Crescendo TeamResult: Insight
