BRICS finance ministers and central bank governors are examining ways to make cross-border payments faster, cheaper and less dependent on existing dollar-centric rails, with greater use of local currencies emerging as a central theme. The discussions, held ahead of the New Delhi summit, come as the grouping seeks both practical trade efficiencies and a louder voice for developing economies at the IMF and World Bank.
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"BRICS Ministers Weigh Faster Cross-Border Payments as Trade Frictions Rise"
BRICS finance ministers and central bank governors are examining ways to make cross-border payments faster, cheaper and less dependent on existing dollar-centric rails, with greater use of local currencies emerging as a central theme. The discussions, held ahead of the New Delhi summit, come as the grouping seeks both practical trade efficiencies and a louder voice for developing economies at the IMF and World Bank.
BRICS Ministers Weigh Faster Cross-Border Payments as Trade Frictions Rise
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RDU Global Wire
Automotive, EVs & Mobility Desk
New Delhi, India Just now (02:00 AM IST)•5 min read
BRICS finance ministers and central bank governors are examining ways to make cross-border payments faster, cheaper and less dependent on existing dollar-centric rails, with greater use of local currencies emerging as a central theme. The discussions, held ahead of the New Delhi summit, come as the grouping seeks both practical trade efficiencies and a louder voice for developing economies at the IMF and World Bank.
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