BRICS financial track: first meeting held in 2025
Deputy Central Bank Governors and Deputy Finance Ministers of the BRICS countries outlined the key areas of cooperation in Cape Town (South Africa). The meeting was organised by Brazil, which holds the BRICS presidency this year.
The agenda included priorities that had been set earlier during Russia’s presidency. In particular, the participants in the meeting confirmed their readiness to discuss the most pressing issues on the payments agenda, i.e. the potential use of national currencies in settlements, ways to ensure the interoperability of the BRICS financial markets, and cooperation in the area of information security. In 2025, the central banks of the member states will also focus on transition finance and financial technology development.
The results of the meeting will guide the future work of the member states’ relevant agencies and will be taken into consideration during the upcoming BRICS summit.
The meeting was hosted by G20 and was attended by the representatives of all BRICS countries: Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, Saudi Arabia, UAE, and Indonesia, a new BRICS member state.