Brazilian President Luiz Inácio Lula da Silva has criticized the International Monetary Fund (IMF) and the World Bank for what he described as a "reverse Marshall Plan," where poorer countries end up financing wealthier nations. Lula called for reforms to the IMF to create a more inclusive model that better serves the needs of poorer countries and prevents economic ruin. At the BRICS summit, he advocated for increasing the IMF voting share for BRICS nations, enhancing financial sovereignty, promoting fairness in artificial intelligence, and securing BRICS data cables. Lula also emphasized the need for the global economy to reduce its dependence on the U.S. dollar for international transactions, stating that Brazil does not require the U.S. currency for trade with other countries. Russian Foreign Minister Sergey Lavrov confirmed that Lula proposed the creation of a BRICS common currency and an alternative financial system to the dollar, a move that has drawn attention amid discussions of tariffs by former U.S. President Donald Trump. China announced that BRICS countries will soon take steps to reduce their reliance on the U.S. dollar, signaling ongoing efforts within the bloc to establish financial independence from the dollar-dominated system. The BRICS bank is also set to launch a new investment platform, furthering the bloc's economic integration.