BRICS financial leaders have identified key areas for 2025

The financial leaders of the BRICS countries have outlined cooperation priorities for the current year. The main tasks will be the transition to settlements in national currencies, the integration of financial markets of participants and the strengthening of work in the field of cybersecurity, the Bank of Russia said.

The first meeting of the deputy governors of the central banks and finance ministers of the BRICS in 2025 was held in Cape Town (South Africa), organized by Brazil, which chairs the association. The event, held within the framework of the G20 summit, was attended by representatives of Brazil, Russia, India, China, South Africa, as well as new members: Indonesia, Egypt, Iran, the United Arab Emirates, Saudi Arabia and Ethiopia.

Current issues were discussed at the meeting, including the use of national currencies for settlements and the prospects for integrating financial markets. An emphasis was also placed on cooperation in the field of information security. In 2025, central banks will focus on transitional financing and the development of financial technologies.

The results of the meeting will determine the further vector of work of the BRICS countries and will be taken into account at the summit of the association, which will be held on July 6-7 in Rio de Janeiro.