Rio de janeiro: Russian Foreign Minister Sergey Lavrov declared that the BRICS bloc of developing economies is striving to establish a stable global economic architecture. Lavrov's statements were made during the BRICS Summit held in Rio de Janeiro, Brazil.

According to Anadolu Agency, Lavrov emphasized the growing influence of regional organizations such as the African Union, the Community of Latin American and Caribbean States (CELAC), the Association of Southeast Asian Nations (ASEAN), the Shanghai Cooperation Organization (SCO), and the Eurasian Economic Union (EAEU). He highlighted ongoing efforts to construct a new global economic framework rooted in equality, multilateralism, and non-discrimination. Lavrov stated that BRICS is a driving force in this transformation, aiming to create a more stable global economic architecture grounded in principles like universality, transparency, non-discrimination, and equal access to opportunities and instruments.

Lavrov further explained that multipolarity is not merely a choice but an objective reality succeeding the outdated neoliberal model that relies on neocolonial practices. He noted that confidence in the US dollar as a reliable payment instrument has been undermined, and developing countries are now spending more on debt servicing than on their development.

Lavrov also pointed out the situation in developed states, mentioning the US's record level of sovereign debt, which has reached $37 trillion and continues to grow. He highlighted that BRICS countries contribute over 40% of global GDP based on purchasing power parity, and with partner countries, this figure rises to 45% or $93 trillion. Additionally, BRICS accounts for more than 20% of global trade and nearly half of the world's population.

Lavrov criticized the continued use of the International Monetary Fund (IMF) and World Bank to preserve neocolonial practices, deeming it unacceptable.