BRICS finance ministers and central bank governors voiced concerns over unilateral trade measures. They backed efforts for cross-border payment interoperability and local-currency settlements. The group also called for reforms of international financial institutions for greater representation. Development finance and customs cooperation initiatives were also discussed by the members.

This article is authored by Kanav Sharma, public policy researcher and Janvi Singhi, independent researcher.

India is unlikely to back a common BRICS currency at the September 12-13 summit, instead favouring links between national payment systems and CBDCs to make cross-border…

BRICS finance ministers voiced serious concerns over unilateral trade measures. Higher tariffs and non-tariff barriers are distorting global trade and adding risks. The global…

Experts urge BRICS nations to enhance banking links and local currency trade for improved economic cooperation and reduced transaction costs.

BRICS finance ministers and central bank governors are exploring faster and cheaper cross-border payment systems, including greater use of local currencies for trade and…