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Russia’s 2024 BRICS Presidency

BRICS is an intergovernmental group established in 2006 by the Federative Republic of Brazil, the Russian Federation, the Republic of India, and the People’s Republic of China, with the Republic of South Africa coming onboard in December 2010.

On 1 January 2024, five new members joined the BRICS community: the Arab Republic of Egypt, the Islamic Republic of Iran, the United Arab Emirates, the Kingdom of Saudi Arabia, and the Federal Democratic Republic of Ethiopia.

Member states take turns holding the BRICS presidency for one calendar year. All decisions are made by consensus.

In 2024, BRICS is chaired by the Russian Federation. Previously, Russia held the BRICS presidency in 2020.

The Bank of Russia’s cooperation under the BRICS Finance Track

The Bank of Russia works together with the other BRICS central banks on three levels:

  • Expert working groups of the BRICS central banks;
  • BRICS Finance and Central Bank Deputies meetings; and
  • BRICS Finance Ministers and Central Bank Governors meetings.

Finance Track 2024: areas of cooperation between the BRICS central banks

Экономический бюллетень БРИКС
Department responsible for publication: Department for Cooperation with International Organisations
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Last updated on: 27.04.2024