BRICS: Announced BRICS Multilateral Agreement on a Digital Settlement and Payment Platform

On 28 February 2024, the finance ministers and central bank governors of the BRICS countries announced their intention to develop the multilateral digital settlement and payment platform “BRICS Bridge”, with the aim to improving the international monetary and financial system. The platform aims to unify the financial markets of the BRICS member countries and increase mutual trade turnover. The announcement was made during the first in-person event of the BRICS financial track, which included representatives of countries that became full members of the association as of 1 January 2024.