BRICS call for IMF reform, fairer AI governance
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Brazilian President Lula da Silva addresses BRICS leaders in Rio de Janeiro, calling for global financial reform and equitable AI development.
BRICS Pushes for IMF Reform, Inclusive AI Governance at Rio Summit
Lula highlights need for equitable tech leadership and improved cross-border financial systems
Rio de Janeiro, Brazil – Speaking at the 17th BRICS Summit, Brazilian President Luiz Inácio Lula da Silva called for reform of the International Monetary Fund (IMF) and fair governance of artificial intelligence, stressing the need for greater inclusivity and multilateral cooperation.
During the summit’s second plenary session, held under the theme “Strengthening Multilateralism, Economic and Financial Affairs, and Artificial Intelligence,” Lula urged the BRICS bloc to continue building an alternative global economic structure that prioritizes equity over unilateralism.
“While unilateralism creates barriers to trade, our bloc is working to develop faster, cheaper, and more secure cross-border payment systems. This will boost our flow of trade and services,” Lula stated.
Reforming Global Finance and Tech Governance
Lula emphasized that current international institutions, including the IMF, are outdated and disproportionately serve the interests of wealthier nations. He called for a more representative system that gives emerging economies a stronger voice in global decision-making.
The president also announced the bloc’s adoption of the Declaration on Artificial Intelligence Governance, which promotes inclusive and equitable development of AI technologies.
“New technologies must operate within a fair, inclusive, and equitable governance framework,” Lula said. “The development of artificial intelligence cannot become a privilege of a few countries or a tool of manipulation in the hands of billionaires.”
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An Expanded BRICS Bloc
Founded by Brazil, Russia, India, China, and South Africa, the BRICS group last year expanded to include Indonesia, Iran, Egypt, Ethiopia, and the United Arab Emirates. It now includes 10 additional strategic partner countries, such as Belarus, Cuba, and Vietnam.
This year’s summit marks a pivotal moment for the group as it seeks to redefine global cooperation through financial reform, digital sovereignty, and the responsible use of emerging technologies.
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