BRICS Finance Chiefs Urge Reform of Global Development Financial Institutions
BRICS officials urged a stronger voice for emerging economies and pressed for faster cross-border payment links and digital currency coordination.
- On Thursday, BRICS finance ministers and central bank governors issued a joint statement calling for reform of the International Monetary Fund and World Bank to increase the voice of emerging market economies.
- Ahead of the 18th BRICS Summit in New Delhi this weekend, the group emphasized that 'reform of global economic governance remains a consistent BRICS priority' given the growing share of emerging market economies in global output.
- The finance chiefs expressed 'serious concerns' about unilateral trade measures and tariffs, which they argued distort global trade and are inconsistent with World Trade Organisation rules.
- Encouraging the BRICS Payment Task Force to continue discussions, the statement urged practical solutions for cross-border payments that are 'fast, low-cost, more accessible, efficient, transparent, and safe.'
- India will push for progress on linking digital currencies across the bloc during the summit, while leaders from Russia, China, and Iran are scheduled to attend this weekend.
11 Articles
11 Articles
The finance ministers and central bank governors of the BRICS countries called for the reform of global financial institutions such as the International Monetary Fund (IMF) and the World Bank, in an effort to give emerging market economies a greater role.
BRICS Push for Financial Reform at Landmark Summit
BRICS finance ministers and central bank governors are advocating for reforms in global financial institutions like the IMF and World Bank to enhance the representation of emerging markets. Ahead of the BRICS Leaders' Summit in New Delhi, they emphasized the need for transparent, accountable financial systems and cooperation in digital currencies.
BRICS finance chiefs urge reform of global development financial institutions
MUMBAI, Sept 11 (Reuters) - Finance ministers and central bank governors of BRICS countries have called for reform of global developmental financial institutions such as the International Monetary Fund and World Bank, seeking a stronger voice for emer...
BRICS Finance Chiefs Call for Urgent IMF, World Bank Reform
BRICS finance chiefs and central bank governors on Friday reiterated calls for urgent reform of the International Monetary Fund and World Bank to give emerging and developing economies a greater say in the two institutions.
BRICS finance chiefs call for global financial reform
Finance ministers and central bank governors of BRICS countries have called for reform of global developmental financial institutions such as the International Monetary Fund and World Bank, seeking a stronger voice for emerging market economies. “With the growing share of emerging market and developing economies in global output and growth, reform of global economic governance […]
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