Algeria is not currently considering becoming a member of BRICS. This was declared by Algerian President Abdelmadjid Tebboune, thus putting an end to a dream long cherished by the country. “ At this time, we are not considering joining this organization. Our interest is to join the BRICS Bank, which is no less important than the World Bank “, he said.
Algerian President Abdelmadjid Tebboune’s statement marks a significant turning point in Algeria’s foreign policy, revealing strategic errors and internal challenges that have hampered its international ambitions.
As a reminder, Algeria invested more than 1.5 billion dollars to join the BRICS Bank, but its membership project definitively failed. At a press conference, Russian Foreign Minister Sergei Lavrov indicated that BRICS members prefer not to expand the group at the moment, and the membership of new candidates will not be discussed at the summit of Kazan, scheduled for October 22-24.
This decision was a hard blow for Algeria, which hoped to strengthen its position on the international scene through this accession.
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The Algerian regime announced this abandonment via its press organ, Al-Moujahid, which recalled the exclusion of Algeria during the Johannesburg summit in August 2023. This rejection that Algiers had considered unjustified, because the Algerian file was withdrawn at the last minute. Despite this failure, Algeria expressed its desire to move closer to BRICS and invest in the New Development Bank, but this again served as a reminder of its isolation and inability to build strong alliances with strategic partners like Russia and China.
Algeria’s failure to join BRICS can be attributed to several political errors. First of all, its relations with Russia, an influential member of BRICS, have been marked by tensions with Moscow, notably its actions against Russian soldiers in Mali. Additionally, Algeria’s role in instability in the Sahara and Sahel, as well as its tensions with Mali, have contributed to its isolation. These regional conflicts have not only weakened Algeria’s position on the international stage, but also diverted attention from its economic and diplomatic ambitions.
Alongside these political challenges, Algeria is facing a deep economic crisis. The fall in oil prices, the country’s main source of income, has exacerbated economic difficulties. High unemployment, galloping inflation and the devaluation of the national currency have plunged the country into a precarious situation. This economic crisis has not only weakened Algeria’s ability to invest in international projects, but also undermined the confidence of foreign investors, one more reason for its rejection of the BRICS.
In late August 2024, New Development Bank (NDB) President Dilma Rousseff said in Cape Town that a number of countries were being considered for admission to the NDB. She cited Algeria as a country whose membership had been well received by the bank. However, this recognition is not enough to compensate for the failure of BRICS membership, which could have offered Algeria a broader platform for its economic and political ambitions. A few days later, the Algerian president himself, through this declaration, definitively broke the Algerian dream of joining the NDB a few months after the end of its refusal to accept its membership in the BRICS.
