In 2001, economist Jim O’Neill coined the formation BRIC representing Brazil, Russia, India and China to bring attention to the economic growth rates in the countries. It is understood that the rapid growth of the countries meant that they shared common interests and challenges. The BRIC group then went on to hold its first leaders’ summit 2009. It was in 2010 when South Africa was invited to join the group, forming what we now know as BRICS. Since then, the BRICS founded the New Development Bank which has played a role in project including in water and transport infrastructure. South Africa, for instance, also borrowed $1 billion in 2020 to fight the Covid-19 pandemic. Ahead of the BRICS summit taking place in the country this year, we want to understand BRICS and we’ll do this in the form of a series. And today, we are starting with Brazil. Gustavo de Carvalho, Senior Researcher at South African Institute of International Affairs, joins Lerato Mbele for the conversation.