Bank Indonesia reported that BRICS finance ministers and central bank governors adopted a joint statement committing to stronger economic and financial cooperation amid geopolitical tensions and economic fragmentation. The agreement advances Bank Indonesia’s earlier calls for greater use of local currencies and stronger cross-border payment links, alongside cooperation on resilience and growth, artificial intelligence, cybersecurity and sustainable finance. Members also supported reforming International Monetary Fund governance to increase the voice and representation of developing countries. Bank Indonesia Governor Destry Damayanti urged members to pursue local currency transactions and payment connectivity in line with their development stages and national priorities. In a bilateral meeting, Damayanti and Reserve Bank of India Governor Sanjay Malhotra discussed accelerating Indonesia-India local currency transactions, the Local Currency Bilateral Swap Arrangement and cross-border QR payment connectivity.
2026-09-11Bank of Indonesia
Bank Indonesia reports BRICS commitment to deepen local currency and cross-border payment cooperation
Bank Indonesia reported that BRICS members committed to deeper cooperation on local currency use, cross-border payments and broader economic resilience. Governor Destry Damayanti also discussed accelerating bilateral local currency arrangements and cross-border QR payments with Reserve Bank of India Governor Sanjay Malhotra.