Bank Indonesia reported that BRICS finance ministers and central bank governors agreed to strengthen economic and financial cooperation, with a focus on greater use of local currencies and improved cross-border payment connectivity. The joint statement from the Sept. 9-10 meeting also covered economic resilience and growth, digital transformation and artificial intelligence, cyber resilience and sustainable finance. Bank Indonesia Governor Destry Damayanti advocated cooperation that reflects members’ different development stages and national priorities. In a bilateral meeting with Reserve Bank of India Governor Sanjay Malhotra, the two sides discussed accelerating Indonesia-India local currency transactions, a local currency bilateral swap arrangement and cross-border QR payment connectivity. BRICS members also called for International Monetary Fund governance reforms to increase the voice and representation of developing countries.
2026-09-11Bank of Indonesia
Bank Indonesia outlines BRICS commitment to expand local currency use and cross-border payment links
Bank Indonesia outlined a BRICS commitment to expand local currency use and cross-border payment connectivity as part of broader economic and financial cooperation. Indonesia and India also discussed accelerating local currency transactions, a bilateral swap arrangement and cross-border QR payments.