BRICS finance ministers discuss cross-border payment plan

Finance ministers and central bank governors of BRICS countries have discussed the possibility of efficient cross-border payment mechanisms.

“We acknowledge the efforts of the BRICS Payment Task Force (BPTF) towards exploring pragmatic solutions for efficient cross-border payment mechanisms, drawing on the guidance provided by our leaders in the Kazan and Rio Declarations, on the BRICS Cross-Border Payments Initiative,” a joint statement of BRICS Finance Ministers and Central Bank Governors (FMCBG) said on Friday. The joint statement comes a day ahead of the two-day BRICS Summit being held in Delhi.