Cairo: Finance Minister Ahmed Kouchouk announced that the BRICS group is expected to play a significant role in developing innovative solutions to tackle the global debt crisis, with a focus on aiding middle-income countries. Kouchouk made this statement during a meeting of BRICS finance ministers and Central Bank governors on Sunday, July 6th, 2025.

According to State Information Service Egypt, Kouchouk highlighted the potential for BRICS nations to collaborate with other stakeholders to promote initiatives like debt swaps and other creative mechanisms to support development efforts. He emphasized the necessity of reinforcing international efforts to uphold the principles of economic multilateralism worldwide, aiming for more inclusive and sustainable growth.

Kouchouk expressed optimism about enhancing economic cooperation among BRICS member states to alleviate the impacts of global shocks. He pointed out that emerging markets have been particularly affected by rising tariffs and increasing global uncertainty, underscoring the need for accessible financing tools to support infrastructure projects, renewable energy, and digital infrastructure.

He further stated that BRICS plays an essential role in progressing global efforts toward establishing a more balanced and equitable economic system.