BRICS Meet Calls for Strengthening Multilateralism

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Alongside leaders and authorities from the bloc’s countries, Lula called for an inclusive reform of the IMF and highlighted the bloc’s efforts to develop faster, cheaper, and more secure cross-border payment systems. Lula also stressed the importance of fair governance for artificial intelligence.

Brazilian President Luiz Inácio Lula da Silva addressed the second plenary session of the 17th BRICS Summit in Rio de Janeiro on Monday, focused on “Strengthening Multilateralism, Economic and Financial Affairs, and Artificial Intelligence.”

Alongside leaders and authorities from the bloc’s countries, Lula called for an inclusive reform of the IMF and highlighted the bloc’s efforts to develop faster, cheaper, and more secure cross-border payment systems. Lula also stressed the importance of fair governance for artificial intelligence.

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Brazil, Russia, India, China and South Africa are the founders of BRICS. The group last year expanded to include Indonesia, Iran, Egypt, Ethiopia, and the United Arab Emirates. As well as new members, the bloc has 10 strategic partner countries, a category created at last year’s summit that includes Belarus, Cuba, and Vietnam.