BRICS countries’ central bank governors and ministers of finance discuss cooperation priorities
Bank of Russia Governor Elvira Nabiullina and Minister of Finance of the Russian Federation Anton Siluanov summarised the results of Russia’s BRICS presidency in terms of cooperation between central banks and ministers of finance at a meeting in Moscow.
The participants in the meeting adopted a statement on the key areas of cooperation:
- the BRICS Contingent Reserve Arrangement and the development of macroeconomic information exchange;
- cooperation in the payment sector;
- development of the BRICS Rapid Information Security Channel;
- interaction in the settlement and depository sector;
- transition finance and fintech joint studies; and
- training events and seminars with the BRICS countries’ central banks.
The central bank governors noted the successful integration of new BRICS member states into the work of the financial track this year. The representatives of the BRICS countries emphasised the significance of and supported the Bank of Russia’s initiative to hold joint cyber security drills for central banks every year.
Elvira Nabiullina thanked the central banks of the BRICS countries for cooperation as part of Russia’s presidency and expressed her support for Brazil’s presidency in 2025.