BRICS Urges Global Financial Reform
BRICS finance ministers and central bank governors called for reforms in global financial institutions to increase emerging market representation. Meeting in Mumbai, officials criticized unilateral trade tariffs and urged progress on cross-border payment systems.
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BRICS finance chiefs demanded sweeping structural reforms of global institutions, seeking greater voting power for developing economies during late Thursday meetings. The joint statement highlights rising friction over Western-led governance models and trade policies. The push comes as geopolitical tensions lift Brent Crude Oil prices and tighten financial conditions worldwide.
