BI stresses importance of cooperation for economic resilience at BRICS

Bank Indonesia is encouraging BRICS countries not only to be users of AI, but to become active innovators and contributors through strengthening domestic research and capacity. Deputy Governor of Bank Indonesia, Filianingsih Hendarta, at the BRICS Finance Ministers and Central Bank Governors Meeting, stressed the importance of concrete cooperation to enhance economic and financial resilience. This is pursued, among other ways, through the use of local currencies and cross-border payment system connectivity. Filianingsih stated that such cooperation can strengthen resilience against external shocks while considering the readiness and conditions of each country. She also highlighted the importance of cooperation in addressing cyber risks and climate change to build a robust, inclusive, and sustainable economic and financial system. Filianingsih represented Indonesia alongside Vice Minister of Finance Juda Agung at the meeting. The meeting, held in Jaipur, India, on 12-13 August 2026, saw BRICS nations push for strengthening resilience, innovation, cooperation, and sustainability as a foundation to face global challenges. These efforts are increasingly important amidst geopolitical dynamics, rapid technological and artificial intelligence developments, and rising climate change risks. At the forum, Indonesia, through coordination between the Ministry of Finance and Bank Indonesia, also encouraged the development of Digital Public Infrastructure, improved access to climate financing for developing countries, and digital and AI transformation according to each country’s development stage. Indonesia further urged an enhanced role for developing countries in global economic governance, including through strengthening the IMF as part of the global financial safety net. This meeting is part of the finance track of India’s BRICS Presidency 2026, aimed at strengthening cooperation and joint responses to global economic challenges. Bank Indonesia stated it will continue to strengthen international synergy and cooperation to support Indonesia’s economic and financial resilience.