Economic challenges are driving a country's efforts to join a coalition of emerging economies. The country's GDP growth rate is relatively low, at 3.70 per cent. Its push to diversify international financing options has led to an application for membership in this grouping.

A significant investment has been made, with a stake purchase of $580 million. However, the bid to join remains stalled due to opposition from one of the existing member countries. Further details on this development are available from the source.

The coalition has recently expanded, admitting new members and transforming into a larger bloc. Multiple countries have applied for membership, with 29 awaiting a decision.