Speaking at the recent BRICS Summit in Rio de Janeiro, the Russian Foreign Minister Sergey Lavrov gave a strong message saying that it is time to build a fairer, more inclusive kind of global economy, that no longer revolves around outdated Western institutions.
Speaking on behalf of the BRICS alliance, Lavrov said the world is moving away from the old economic order and toward a more balanced, multipolar system. His comments that were reported by Anadolu Agency, come as BRICS is growing fast, not just in size but also in global influence, now making up a huge part of the world’s economy and population.
BRICS Is No Longer Just a Club — It’s a Force
BRICS has spread its reach in the past few years and now takes account for over 40% of global GDP and nearly half of the world’s population. And with its new partners on board too, the group carries even more global power.
Lavrov made it clear that BRICS is no longer just talking about improvement. Instead it’s aiming for real change.
He also really appreciated how groups like the African Union, ASEAN, and CELAC are coming together to make the economic playing field fairer, so it’s not just the richest countries that get all of the benefits.
Taking Aim at Western-Led Institutions
A big part of Lavrov’s speech focused on the IMF and World Bank, which he said still operate in ways that serve old colonial interest. He disapproved of how these institutions always keep developing countries in cycles of debt instead of helping them grow.
Lavrov pointed out that many poorer nations are now spending more on repaying loans than on investing in their own future, and that’s a big problem.
He also called out the US dollar, saying that the confidence in it isn’t how it used to be. “The situation is going out of control, even in developed countries,” he said, highlighting that US debt has hit a record of $37 trillion and is still rising.
Multipolarity: Not a Choice, but a Reality
Lavrov’s key message was clear and said the world is no longer controlled by just one or two superpowers.
“Multipolarity is not a choice but an objective reality,” he said. In simple terms, this means that power is being spread more evenly across the globe, and BRICS wants to help charge that change.
He called for a new economic system that is built on transparency, equal opportunity, and non-discrimination, a system where no country is left behind just because it doesn’t belong to a wealthy Western club.
Final Thoughts
Be it watching from Wall Street or the Global South, one thing is made clear, BRICS is stepping up its role on the world stage.
Lavrov’s speech wasn’t just about economics, it was about values, fairness, and the future. As the global balance of power continues to change, we may be watching the start of a new chapter, one where more countries have a real say in how the world works.
The message from BRICS? The world is changing, and it’s time the economic system caught up.
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