BRICS Egypt to Ditch the US Dollar in 2024: A Major Shift in Global Finance? Is the global financial landscape about to change dramatically? All eyes are on the BRICS bloc, now BRICS Plus, as Egypt and other nations signal a move away from the US dollar.

The long-term monetary goals of the BRICS bloc comprising Brazil, Russia, India, China, and South Africa, with new members such as Egypt, Iran, Ethiopia, and the UAE, are becoming clearer. A key element of this strategy appears to be reducing dependence on the US dollar in international trade and financial transactions.

What does this mean for Egypt? By joining the BRICS alliance, Egypt gains access to alternative trading mechanisms and potentially more stable currencies for bilateral deals. This strategic move could insulate the Egyptian economy from fluctuations in the US dollar and reduce reliance on American monetary policy.

The BRICS Plus’ (expanded to include Egypt, Ethiopia, Iran, and the United Arab Emirates) intent to dump the U.S. dollar in their “bilateral transactions” and aim for a new financial order is gaining momentum. The consequences could be far-reaching, impacting everything from global trade flows to the dominance of the US dollar as the world's reserve currency.

This shift raises important questions: Will other countries follow suit? What alternative currencies will be used? And what impact will this have on the US economy? Keep following this story as it develops, as the move by BRICS Egypt to ditch the US dollar in 2024 could signal a significant turning point in global finance.