According to EY’s Economy Watch – July 2025 edition, BRICS+ countries are stepping up efforts to reshape the global financial system through greater cooperation and strategic financial initiatives. The report highlights three key institutional pillars driving this transformation: the cross-border payments platform, the New Development Bank (NDB), and the BRICS Contingent Reserve Arrangement (CRA).
These initiatives are gaining momentum as BRICS+ economies look to enhance financial resilience and diversify trade frameworks amid growing global uncertainty. Geopolitical tensions, shifting supply chains, and evolving trade dynamics are prompting emerging economies to strengthen regional integration and reduce dependency on traditional financial systems.
Together, these platforms represent a concerted move by BRICS+ nations to establish a more robust, interconnected, and self-reliant economic bloc.
