PM Abiy Calls for Better Representation in Global Financial Institutions to Deliver Better Outcomes at BRICS Summit

Addis Ababa, September 13, 2026 (FMC) — Prime Minister Abiy Ahmed has called for better representation in global financial institutions to translate into better outcomes for economies facing financial pressure, drawing on Ethiopia’s recent experience with major economic reforms and external debt restructuring at the 18th BRICS Leaders’ Summit in New Delhi.

Turning to what he described as the international financial system, Prime Minister Abiy said Ethiopia was speaking from recent experience, having undertaken major economic reforms while restructuring its external debt.

“For any economy, under pressure, time is a cost,” he told fellow BRICS leaders, underscoring the need for international financial mechanisms capable of responding more effectively when economies come under strain.

He called for debt resolution to become faster, more transparent and more predictable, identifying these as essential elements of a financial system that can better respond to countries navigating economic pressure.

Prime Minister Abiy then broadened the argument beyond debt restructuring, stressing that representation in global financial institutions should lead to better outcomes.

His remarks placed the question of representation within the wider functioning of the international financial system, linking institutional voice to the practical results delivered to economies that depend on global financial mechanisms.

The Prime Minister also outlined areas where BRICS itself could contribute to making international financial cooperation more effective.

He said BRICS could make cross-border payments easier and expand the use of local currencies where doing so lowers costs and supports trade.

The proposals came as part of Prime Minister Abiy’s broader message that international economic cooperation should produce more responsive, predictable and practical outcomes for countries operating under financial and economic pressure.

Addressing leaders of the expanded BRICS grouping, he said the strength of the partnership lies in what its members can achieve together, with Ethiopia coming to the partnership ready to contribute its experience and perspectives.

His intervention thus connected Ethiopia’s own economic reform and debt-restructuring experience to a wider call for improvements in the global financial system — particularly in how debt challenges are resolved and how representation in its institutions translates into tangible outcomes.