The BRICS Finance Ministers and Central Bank Governors Meeting was held virtually on April 6, 2021, hosted by India. Here are the key details about this meeting:

1. This was the first meeting of BRICS Finance Ministers and Central Bank Governors under India’s chairship in 2021.

2. The meeting was jointly chaired by India’s Union Minister for Finance & Corporate Affairs, Nirmala Sitharaman, and the Governor of the Reserve Bank of India, Shaktikanta Das.

3. Participants included Finance Ministers and Central Bank Governors from all BRICS countries (Brazil, Russia, India, China, and South Africa).

4. The meeting focused on strengthening intra-BRICS cooperation based on the principles of Continuity, Consolidation, and Consensus.

5. Key topics discussed during the meeting included:
– Global Economic Outlook and Response to COVID-19 pandemic
– New Development Bank (NDB) Activities
– Social Infrastructure Financing and Use of Digital Technologies
– Cooperation on Customs related issues
– IMF reforms
– Fintech for SMEs and Financial Inclusion
– BRICS Rapid Information Security channel
– BRICS Bond Fund

6. Finance Minister Sitharaman emphasized the importance of BRICS in responding to the COVID-19 crisis through policy support and enhancing international coordination.

7. India highlighted its ongoing vaccine drive, mentioning that it had supplied 64.5 million vaccine doses to 84 countries at the time.

8. The Finance Minister also discussed the importance of social infrastructure and the use of digital technologies, suggesting engagement with the private sector and exploring innovative financing models.

9. Other topics addressed included thematic priorities for the New Development Bank, membership expansion, and greater coordination among BRICS member countries on the 16th general review of IMF Quotas.

This meeting set the tone for financial cooperation among BRICS nations for 2021 under India’s chairship, addressing both immediate concerns like the pandemic response and longer-term goals for economic cooperation and development.