Dar es Salaam, July 29 -- THE 2025 BRICS Summit, held in Rio de Janeiro from 6–7 July, marked a notable departure from previous gatherings. For the first time, the bloc emphasised the need to increase IMF quotas and World Bank shareholding for developing countries and emerging markets (DCEMs).

Unlike earlier summits that often leaned heavily on declarations, this years event pushed for tangible reforms to global financial governance, aimed at giving the Global South a more equitable role in the system.

My immediate reaction to this development is clear: quota realignment must not come at the expense of smaller economies like Tanzania. Rather, it should reflect evolving global economic realities and empower developing countries to ...