BRICS finance leaders urge global financial reform

BRICS countries have called for reforming global financial institutions such as the International Monetary Fund and the World Bank to strengthen the role of emerging market economies and increase their representation in global economic governance. Officials emphasized the need to enhance coordination among member states to make these institutions more transparent and accountable. They also highlighted the importance of developing diverse, fast, and low-cost payment systems across member countries. These initiatives are part of the BRICS summit set to take place in New Delhi, amid concerns about the impact of unilateral measures on global trade and growth.

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