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

11 September 2026
Ethiopian News Agency (Addis Ababa)

Addis Ababa — Ethiopia has reaffirmed its commitment to advancing economic reforms and contributing to BRICS' shared financial agenda, as its delegation participated in the Second BRICS Finance Ministers and Central Bank Governors (FMCBG) Meeting in Mumbai, India.

Led by National Bank of Ethiopia Governor Eyob Tekalign, the Ethiopian delegation joined finance ministers and central bank governors from BRICS member countries.

The meeting anticipated to discuss key challenges and opportunities confronting emerging and developing economies amid an increasingly volatile global economic environment.

Addressing the meeting, Governor Eyob highlighted Ethiopia's ongoing comprehensive reforms across the fiscal, monetary, financial and foreign exchange sectors.

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The central bank governor further noted that the measures are helping strengthen macroeconomic stability and build greater resilience against global economic shocks.

Eyob stated that developing economies continue to face disproportionate pressure from global economic volatility, underscoring the importance of stronger financial cooperation and effective mechanisms to safeguard economic stability.

The Governor also welcomed progress toward amendments to the Contingent Reserve Arrangement (CRA) Treaty, describing the mechanism as an important pillar for strengthening BRICS' financial safety net.

He called for the onboarding of new members to the arrangement to take into account countries' different stages of development, financial needs and capacity to effectively absorb and utilize available support.

Governor Eyob further reaffirmed Ethiopia's commitment to the BRICS vision and its readiness to work constructively with member countries in advancing the group's strategic financial and economic priorities.

Ethiopia's participation underscores its growing engagement in multilateral economic cooperation as it pursues reforms aimed at strengthening resilience, expanding financial stability and positioning the country for deeper integration into the global economy.

Read the original article on ENA.

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