Ethiopia Champions Resilient Finance as BRICS Shapes New Economic Cooperation

Addis Ababa, September 11, 2026 (FMC) — Ethiopia is championing stronger and more resilient financial cooperation among emerging economies as BRICS works to deepen its collective capacity to navigate an increasingly volatile global economic landscape.

Leading Ethiopia’s delegation to the Second BRICS Finance Ministers and Central Bank Governors (FMCBG) Meeting in Mumbai, India, National Bank of Ethiopia Governor Eyob Tekalign highlighted the country’s comprehensive fiscal, monetary, financial-sector and exchange-rate reforms, saying they are strengthening macroeconomic stability and financial resilience amid global pressures that continue to weigh disproportionately on developing economies.

The meeting brought together finance ministers and central bank governors to examine the challenges and opportunities shaping BRICS economies, with financial resilience and mechanisms for collective support forming an important part of the discussions.

Governor Eyob welcomed progress on amendments to the Contingent Reserve Arrangement (CRA) Treaty, which aims to reinforce the mechanism as a financial safety net for member countries.

He called for the process of onboarding new members to reflect the diverse circumstances of emerging economies, including their respective stages of development, financial needs and capacity to absorb available support.

Ethiopia’s intervention underscored its broader commitment to engaging constructively in BRICS and contributing to efforts to build more responsive and resilient mechanisms of economic cooperation. Governor Eyob reaffirmed Ethiopia’s dedication to the group’s shared vision and its readiness to advance BRICS’ strategic priorities.

For Ethiopia, the engagement comes amid an ongoing reform drive aimed at strengthening the foundations of the national economy and building greater resilience in the face of a rapidly shifting global economic order.