Ethiopia Presses for Greater Global Financial Influence for Emerging Economies at BRICS

Addis Ababa, August 13, 2026 (FMC) — Ethiopia has pressed for greater representation of emerging and developing economies in the global financial system as it participated in the BRICS Finance Ministers and Central Bank Governors’ Meeting held in Jaipur, India, on July 12–13, 2026.

During the meeting, held under India’s 2026 BRICS Chairship, Ethiopia emphasized the need to strengthen financial resilience, development finance and cooperation among emerging and developing economies amid mounting global economic challenges. The Ethiopian delegation highlighted rising debt, limited fiscal space, high borrowing costs, climate-related shocks and financial fragmentation as challenges requiring stronger collective responses.

Ethiopia also advocated deeper BRICS cooperation in trade, investment and financial systems, alongside expanded knowledge-sharing and access to innovative development financing through BRICS institutions and platforms. It further emphasized capacity building and closer cooperation on financial infrastructure among central banks.

As Ethiopia advances toward accession to the New Development Bank (NDB), the delegation welcomed closer alignment between NDB financing and broader BRICS development initiatives, underscoring the importance of stronger institutional cooperation in expanding development financing for emerging and developing economies.