bricslawjournalBRICS Law JournalЮридический журнал БРИКС2409-90582412-2343Publishing House V.Ема10.21684/2412-2343-2023-10-4-98-120bricslawjournal-917Research ArticleARTICLEThe COVID-19 Response of BRICS and Multilateral Development BanksSilvaR. L.

Roberto Luiz Silva – Professor 

100 Av. João Pinheiro, Belo Horizonte, 30130-180 

roberto-silva@ufmg.brAlmeidaT. F.

Thiago Ferreira Almeida– Specialist in Public Policy, Development Bank of Minas Gerais

1600 Rua da Bahia, Belo Horizonte, 30160-017 

almeida.thf@gmail.comFederal University of Minas GeraisBrazil20230612202310498120Copyright © Silva R., Almeida T., 20232023Silva R., Almeida T.Silva R., Almeida T.Данная работа распространяется под лицензией Creative Commons Attribution 4.0.This work is licensed under a Creative Commons Attribution 4.0 License.https://www.bricslawjournal.com/jour/article/view/917

This article conducts an analysis of the BRICS member countries in terms of their national and international institutions, with a special emphasis on how these institutions affect the stability of the global financial system and the promotion of development. To this end, the work was guided by the attributions of national central banks and the role played by the G20 in maintaining international financial stabilization. Additionally, the analysis examines the activities of national development banks and their institutions established within the BRICS nations, such as the Contingent Reserve Arrangement and the New Development Bank. The descriptive method was used to interpret the dynamics of international political and legal relations. The article concludes by recognizing the decreasing significance of multilateral solutions and highlighting the need for the national central and development banks of the BRICS countries to engage in communication with international organizations of financial cooperation.

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The authors declare that there are no conflicts of interest present.