BRICS leaders call for further discussion of cross-border payment initiative

World July 06, 2025, 23:16

According to the declaration, the BRICS countries welcome the "’Technical Report: BRICS Cross-border Payments System’, which reflects members’ revealed preferences, and should play a pivotal role in our efforts"

RIO DE JANEIRO, July 6. /TASS/. The leaders of the BRICS countries have called for continued efforts to advance cross-border payments and the payment systems of the member states, according to the declaration adopted at the group’s summit.

"We task our ministers of finance and central bank governors, as appropriate, to continue the discussion on the BRICS Cross-Border Payments Initiative, and acknowledge the progress made by the BRICS Payment Task Force (BPTF) in identifying possible pathways to support the continuation of discussions on the potential for greater interoperability of BRICS payment systems," the document said.

According to the declaration, the BRICS countries welcome the "’Technical Report: BRICS Cross-border Payments System’, which reflects members’ revealed preferences, and should play a pivotal role in our efforts to facilitate fast, low-cost, more accessible, efficient, transparent, and safe cross-border payments among BRICS countries and other nations and which can support greater trade and investment flows.".

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