- BRICS leaders did not discuss launching a new common currency or a de-dollarization agenda during the 2025 summit.
- The summit took place in Rio de Janeiro with top leaders from China and Russia absent.
- Discussions focused on trade settlements in local currencies among member countries.
- Leaders criticized the International Monetary Fund (IMF) and World Bank for perceived bias toward the U.S. and Western nations.
- No major new economic policies or decisions were announced during the event.
The 2025 BRICS summit was held in Rio de Janeiro over two days, with key member nations meeting to discuss economic cooperation. The event was led by India’s Prime Minister Brazil-lula-li-qiang-world-leaders-trump-tariffs-india-china-russia/liveblog/122285696.cms”>Narendra Modi and Brazil’s President Lula da Silva. Leaders from China and Russia were absent. Despite earlier interest in forming a BRICS common currency and advancing a de-dollarization agenda, neither topic was discussed at the summit.
According to reports from the event, summit participants avoided mentioning these two previously prominent initiatives. The “de-dollarization agenda” aims to reduce reliance on the U.S. dollar in global trade and finance, while the proposed common currency would offer an alternative for cross-border transactions among BRICS nations. Instead, leaders focused on the potential for settling trade in their respective local currencies.
During the summit, BRICS leaders voiced criticism of the IMF and World Bank, stating that both organizations are “biased to the US and other Western nations while ignoring the Global South region.” The statement reflects concerns among several member countries that current international financial systems give unfair advantages to Western powers. Leaders expressed frustration with what they described as insufficient economic support for developing nations.
Despite these criticisms, the BRICS summit did not yield any new major policies related to global trade or economic integration. The alliance primarily highlighted ongoing discomfort with U.S. and Western-led policies but avoided formal decisions on shifting away from the U.S. dollar or launching a new shared currency.
The lack of discussion on key agendas such as de-dollarization and a new currency marks a shift from previous BRICS summits, where these topics took center stage. Summit attendees noted that while the group did not advance these issues, it has not officially abandoned them and may revisit the topics in the future.
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