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.

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Fact-check: Key claims were checked against Reuters’ September 11, 2026 report and current BRICS India 2026 information.

Disclaimer: This article describes positions and proposals reported ahead of the summit. It does not imply that any proposed payment or financial reform has already been implemented.