Features of the institutionalization of financial and economic cooperation between the BRICS countries

The current article proposes the main directions of institutionalization of relations between the BRICS countries in various spheres, primarily in the economy, trade and monetary and financial sectors. It also outlines the most important prerequisites and reasons for the need to create the investigated institutions. There are the problems that have hindered the formation of BRICS institutions and, based on statistical data, outlines possible scenarios for the development of certain areas of joint activities of the BRICS on the basis of these institutions.