The Central Bank of Russia published an update on the first 2025 meeting of the BRICS financial track, where deputy central bank governors and deputy finance ministers outlined the group’s key areas of cooperation at a meeting in Cape Town organised by Brazil under its BRICS presidency. The agenda reflected priorities set during Russia’s presidency, with participants confirming readiness to discuss the potential use of national currencies in settlements, approaches to ensure interoperability of BRICS financial markets, and cooperation on information security. Central banks will also focus in 2025 on transition finance and financial technology development, with all BRICS members represented, including Indonesia as a new member state. The outcomes are intended to guide follow-up work by relevant agencies in member states and be taken into account for the upcoming BRICS summit.
Central Bank of Russia 2025-02-27
Central Bank of Russia reports BRICS financial deputies set 2025 agenda on national-currency settlements, market interoperability and information security
The Central Bank of Russia reported on the first 2025 BRICS financial track meeting, highlighting cooperation on national currency settlements, financial market interoperability, and information security. The meeting, organized by Brazil, also emphasized transition finance and financial technology development, with Indonesia participating as a new member. These discussions will inform future work and the upcoming BRICS summit.