BRICS Fin Mins, Central Bank Chiefs Raise Concerns on Unilateral Trade and Finance-Related Measures

Brics finance ministers in India hit out at ‘unilateral tariff' moves: ‘They distort trade’

The ministers said the global economy was facing significant headwinds from geopolitical tensions and trade fragmentation.

BRICS fin mins, central bank chiefs raise concerns on unilateral trade and finance-related measures

BRICS finance ministers and central bank governors voiced concerns over unilateral trade measures. They backed efforts for cross-border payment interoperability and local-currency settlements. The group also called for reforms of international financial institutions for greater representation. Development finance and customs cooperation initiatives were also discussed by the members.

BRICS finance ministers, central bank chiefs flag concerns on unilateral tariffs

FMCBG said they will continue to strengthen coordination among BRICS members to make international financial institutions more representative, transparent and accountable

BRICS Finance Ministers & central bank chiefs voice concern about 'unilateral imposition' of tariffs

The first Finance Ministers and central bank governors meeting under India’s chairship of BRICS was held on August 12, and the second was held on September 9-10 in Mumbai, following which a joint statement was issued

BRICS Finance Ministers express serious concerns with unilateral imposition of trade, finance-related actions

BRICS Finance Ministers voice concerns over unilateral trade actions and emphasize collective efforts for global economic resilience and reform.

BRICS flags unilateral tariffs, trade barriers as global risks

BRICS finance ministers voiced serious concerns over unilateral trade measures. Higher tariffs and non-tariff barriers are distorting global trade and adding risks. The global economic outlook remains under pressure from geopolitical tensions. Trade fragmentation and protectionism also contribute to economic instability. Policy uncertainty and financial vulnerabilities add to the global economic challenges.