BRICS countries finance ministers and central bank governors met earlier this week in Sao Paulo, Brazil. This meeting happens under Russia’s chairmanship ahead of the 2024 BRICS Summit.
The meeting investigated how the bloc can integrate financial systems that are mutually beneficial for all member states.
Digital currency was at the top of the agenda, as the emerging markets countries aim improve and reform financial systems focussing on incorporating digital currencies. The bloc will ensure this happens by working alongside existing central banks, in creating platforms that will allow for this move.
The delegation also discussed current payment systems and financial institutions used as weapons to fuel political and economic pressures.
The meeting concluded by looking at the financial progress the bloc has made and ways to continue trade and investment within the organisation.
