Financial integration of the BRICS countries: current infrastructure, risks and opportunities for future development of joint payments

This article examines the financial infrastructure of the BRICS countries within the context of the transforming global financial system. An analysis based on a literature review, expert assessments, and a weighted average model assesses the current state, identifying strengths and weaknesses, risks, and opportunities for BRICS financial integration. By conducting a detailed analysis of data and indicators specific to these countries, the study delves into the relationship between financial infrastructure development, overall financial progress and economic growth. Acknowledging the challenges of creating a single currency, the article proposes an alternative development path involving the establishment of a unified payment and deposit platform and a common unit of account. Finally, recommendations are presented for strengthening cooperation and investment in BRICS infrastructure to build a more stable and equitable global financial system.