Jakarta, CNBC Indonesia - The central banks and finance ministries of the BRICS countries agreed to strengthen international cooperation by encouraging an open, inclusive, and rule-based multilateral trading system.

In addition, BRICS supports the importance of strengthening inclusiveness and representation of developing countries in global governance, one of which is through strengthening policy coordination, as well as increasing transparency and exchange of information between members to maintain macroeconomic and financial system stability.

This emerged in a series of BRICS Finance Ministers and Central Bank Governors Meetings, held on 4-5 July 2025 in Rio de Janeiro, Brazil. Deputy Governor of Bank Indonesia, Filianingsih Hendarta and Deputy Minister of Finance of the Republic of Indonesia, Thomas A. M. Djiwandono, led the Republic of Indonesia delegation in the series of meetings.

"BI's active role in BRICS is BI's support for the Government's strategic steps to strengthen Indonesia's global position, open up new economic opportunities, and strengthen Indonesia's strategic role as a link between developed and developing countries," said BI's Executive Director and Head of Communications Department Ramdan Denny Prakoso in his official statement, Monday (7/7/2025).

At the meeting, according to Denny, Deputy Filianingsih emphasized the importance of a forward-looking and pre-emptive monetary policy to maintain stability in order to strengthen sustainable economic growth.

BI continues to strengthen the policy mix, including through the implementation of scenario-based simulations to anticipate the impact of global spillovers."This step is strengthened through close coordination with the Financial System Stability Committee (KSSK) to maintain financial system stability, and is supported by financial market deepening, strengthening regional cooperation, and delivering clear and consistent policy communications to maintain expectations and increase policy credibility," he said.

Moving forward, BRICS countries have agreed to strengthen international cooperation. One of these is by exploring opportunities for further cooperation in a number of strategic areas, including payment systems, the international financial safety net (JPKI), sustainable financing, and cybersecurity.

(haa/haa)