BRICS finance ministers and central bank governors have called for reforms to global development finance institutions and faster, cheaper cross-border payments ahead of the BRICS Leaders’ Summit in New Delhi on September 12–13, 2026.

What the finance chiefs agreed

In a joint statement reported by Reuters on September 11, the group backed efforts to make institutions such as the IMF and World Bank more representative, transparent and accountable to emerging and developing economies. The statement also raised concerns about unilateral tariffs and other trade and finance measures.

Why cross-border payments matter

The BRICS Payment Task Force is working on interoperability between payment and messaging systems. The finance chiefs called for solutions that are fast, low-cost, accessible, efficient, transparent and secure. They also supported further work on trade settlement and investment using BRICS local currencies, while acknowledging that national priorities differ.

What happens next?

The New Delhi leaders’ summit is scheduled for September 12 and 13. Reuters reports that India is expected to press for further progress on digital-currency interoperability within BRICS. The group is also discussing stronger use of the New Development Bank and mechanisms intended to attract private investment.

Official summit information: BRICS India 2026. Reuters coverage of the finance chiefs’ statement is also available here.

Related TruthWave coverage: US H-1B grace-period proposal and India’s current space-sector recruitment.

নতুন আপডেট, 12 September 2026: PIB confirms that UN Secretary-General António Guterres arrived in New Delhi on September 11 to participate in the 18th BRICS Summit hosted by India. The leaders’ meeting is taking place on September 12-13.

New development: BRICS agrees on a joint declaration

On 12 September 2026, BRICS members reached agreement on a joint declaration at the New Delhi summit after difficult negotiations over the wording on the Middle East conflict. Reuters reported that the declaration calls for maximum restraint and avoids naming individual countries. Indian Express also reported that the statement stresses international law, protection of civilians and the smooth flow of global trade.

For readers, the practical significance is that the declaration signals an effort to preserve BRICS coordination despite major differences among members. It is a diplomatic statement, not a binding peace agreement or an immediate economic benefit for households.

Updated: 12 September 2026.

Fact-check: Summit timing and the UN Secretary-General’s participation were checked against current PIB information; the financial-cooperation points were checked against Reuters’ September 11 report.

Disclaimer: This article describes summit discussions and proposals, not completed policy changes. Official outcomes may change after the leaders’ meetings.

Sources: PIB and Reuters.