The Russian Finance Ministry announced that the final meeting of BRICS finance ministers and central bank governors for 2024 will take place in Russia in early October. This gathering marks the culmination of discussions during Russia’s chairmanship of BRICS.
The first meeting of the year was convened in Sao Paolo, Brazil, where Finance Minister Anton Siluanov presented proposals aimed at enhancing the international monetary and financial system. Siluanov emphasized the necessity of creating independent infrastructure to bolster the autonomy and financial sovereignty of developing nations.
Siluanov stressed the importance of accessible and independent financial infrastructure to prevent the imposition of trade, investment, and technology barriers by individual countries. He warned that such barriers could impede global economic growth.
The Russian Finance Ministry, in collaboration with BRICS partners, will compile a report on enhancing the international monetary and financial system. This report, to be presented to BRICS leaders by year-end, will include a list of initiatives and recommendations. Among these initiatives may be the establishment of a multilateral digital settlements and payment platform known as BRICS Bridge.
During Russia’s chairmanship, three meetings at the deputy finance minister level will be convened to address agenda items in detail, facilitating the development of practical initiatives.
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