BRICS and Global Economic Recovery

The panel on global economic recovery examined the success of multilateral financial institutions’ efforts to assist economies most in need of help and explored measures that BRICS countries can take to revive their respective nations and the global economy.

The panel noted that there is much talk about decreasing the value chain, bringing back home the parts of the supply in Europe and America and replacing imports with domestic alternatives.

Economic and exchange rate inequalities were also noted as challenges in the recovery of the world’s global economy.

The panel encouraged the NDB to be strategic with investment in the different sectors and the development of a common agenda for emerging markets. Global governance and global supply chains should be revisited, with more investment needed in education, agriculture and research.

Monitoring and the development of fiscal policy are key in working toward stabilising international financial systems.