🗣️ Enhancing Cross-Border Settlement Mechanisms Among BRICS Member States

Following its recent expansion, BRICS has significantly strengthened its economic potential. In 2024, the share of 🕊🕊🕊🕊🕊 nations’ GDP based on purchasing power parity (according to the IMF) reached 40.2%, surpassing that of the G7 (28.8%). Trade turnover between the BRICS nations came to USD 1 trillion.

Under these conditions, establishing an effective cross-border settlement system remains one of the group’s most complex and urgent challenges. Its importance is only growing amid ongoing geopolitical tensions as well as the use of financial infrastructure as a tool of pressure.

Read more in our new article by Roman Prokhorov, expert at the working group "Financial Cooperation and the International Monetary and Financial System at BRICS Expert Council-Russia.

📎 More #BRICS analytics is available on the official website of the BRICS Expert Council-Russia.

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