Despite progress, Mari Elka noted that the shift away from dollar reliance is still in its early stages. “The process has begun, and BRICS might accelerate it, but the dollar still dominates transactions and asset holdings. Diversification is happening, but it will take time,” she said.

She underscored the importance of clear governance within Indonesia’s government structure as the country takes on its role in BRICS. Coordination between ministries, such as the Ministry of Foreign Affairs and the Ministry of Finance, will be crucial. She also noted the potential need for financial contributions to BRICS in the future, though such requirements are not currently in place.

While optimistic about the opportunities BRICS membership presents, Mari Elka urged caution. “We need to study this carefully, especially regarding the New Development Bank and its potential to fund development projects. These are matters that require thorough consideration,” she added.

Indonesia’s entry into BRICS marks a significant milestone, providing the nation with an opportunity to influence global economic policies and strengthen its position in international trade. As the country adapts to its new role, collaboration and strategic planning will be key to maximizing the benefits of this historic move. (Uki Ruknuddin)

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