BRICS, along with Ethiopia, called for global financial architecture reform and backed bids to join the World Trade Organization.
8 reports, 1 independent
Updated Sep 12
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What happened
BRICS, along with Ethiopia, called for global financial architecture reform and backed bids to join the World Trade Organization.
Who's involved
What this event is mainly aboutHow it developed
Newest first. Tap a step to see who reported it.- Iran, represented by Kazem Gharibabadi, used BRICS to challenge US sanctions and seek WTO membership support.Sub-event
BRICS backed bids to join the WTO and advocated for restoring the dispute settlement mechanism.1 source
Keep exploring
Part of
BRICS, chaired during its 2026 tenure, demanded greater voice and structural reforms within the IMF and World Bank.Also in this story
- BRICS discussions highlighted the limitations of the bloc due to the Iran conflict and compared the size of its bank to the World Bank.
- BRICS calls for major reforms of Western financial institutions, with India acting as a brake on de-dollarization efforts.
- BRICS expands to include Iran and is seeking alternatives to existing global financial institutions.
- While participating in BRICS, Malaysia has voiced support for reviewing the IMF and World Bank, alongside views that the UN system is outdated and unfair.
The entities involved
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BRICS
association of Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, and the United Arab Emirates
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World Trade Organization
intergovernmental organization that intends to supervise and liberalize international trade
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Ethiopia
country in the Horn of Africa
Related events
- The 18th BRICS Summit is currently taking place in New Delhi, where members are calling for significant reforms in the WTO and the IMF.
- BRICS established a new international bank dedicated to financing emerging markets.
- The World Bank Group analyzed Italy's partnerships, extending its scope to include Ethiopia and Tunisia.
- EU and Belgian agency provide climate funding support for Mozambique, alongside a coalition meeting in Ethiopia addressing development approaches.