BRICS Summit Concludes with New Delhi Declaration on Global Cooperation Amid Geopolitical Tensions; Indonesian Ferry Disaster Leaves 130 Missing

Geopolitical tensions, particularly concerning the West Asia conflict and the Ukraine war, remain high. Global economic growth faces risks from elevated energy prices and debt. A major maritime disaster adds to humanitarian concerns.

📌 Key developments

• The 18th BRICS Summit concluded in New Delhi, India, with leaders adopting the New Delhi Declaration, which reaffirms the spirit of mutual respect, sovereign equality, solidarity, democracy, openness, inclusiveness, collaboration, and consensus.
• Indian Prime Minister Narendra Modi warned against the 'weaponization of technology and critical minerals' and highlighted the adverse impact of rising geopolitical tensions, supply chain disruptions, and climate crises on ordinary people globally.
• An Indonesian passenger ferry overturned in the Java Sea, leaving approximately 130 people missing after carrying more than 240 passengers and crew.
• The International Monetary Fund (IMF) maintained its 3% global economic growth forecast for 2026 but cautioned about persistent high risks from elevated oil and gas prices, increasing global debt, and stalled disinflation.

💡 Why it matters

The BRICS declaration signals a continued push for a multipolar world order and reforms to international institutions, impacting global economic and political dynamics. The ferry disaster highlights ongoing maritime safety challenges in Southeast Asia. The IMF's warnings underscore persistent vulnerabilities in the global economy.

🎭 People in the news

• Narendra Modi — Indian Prime Minister, who hosted the BRICS Summit and warned against the weaponization of technology and critical minerals.
• Xi Jinping — Chinese President, who urged deeper cooperation among 'Greater BRICS' nations.
• Vladimir Putin — Russian President, who welcomed offers for peace talks on Ukraine from China and India.
• Julie Kozack — Spokesperson for the International Monetary Fund, who reiterated warnings about global economic risks.

👀 What to watch

• Further search and rescue efforts for missing persons from the Indonesian ferry disaster.
• Reactions and implementation efforts following the BRICS New Delhi Declaration.
• Developments in global energy markets and inflation data.