Ethiopia Reaffirms Reform Momentum, Brics Commitment At Finance Leaders’ Meeting

Ethiopia reaffirmed its commitment to economic reforms and to the BRICS financial agenda during the Second BRICS Finance Ministers and Central Bank Governors (FMCBG) Meeting in Mumbai, India.

The Ethiopian delegation, led by National Bank of Ethiopia Governor Eyob Tekalign, joined finance ministers and central bank governors from the BRICS member states to discuss challenges and opportunities facing emerging and developing economies amid a volatile global environment.

Governor Tekalign highlighted Ethiopia’s ongoing comprehensive reforms in fiscal, monetary, financial and foreign‑exchange policy, noting that these measures are strengthening macroeconomic stability and building resilience against global shocks.

He emphasized that developing economies continue to experience disproportionate pressure from global volatility and stressed the need for stronger financial cooperation and effective mechanisms to safeguard stability.

Tekalign welcomed progress on amendments to the Contingent Reserve Arrangement (CRA) Treaty, describing the mechanism as a key pillar of BRICS’ financial safety net. He called for the inclusion of new members in the arrangement to reflect differing stages of development, financial needs and capacities to absorb and use available support.

The governor reaffirmed Ethiopia’s readiness to work constructively with BRICS members on the group’s strategic financial and economic priorities, underscoring the country’s growing engagement in multilateral economic cooperation.

Ethiopia’s participation in the meeting reflects its pursuit of reforms aimed at strengthening resilience, expanding financial stability and positioning the country for deeper integration into the global economy.

Article source: allafrica.com | Image credit: X