Russia gives up the BRICs presidency so that Dilma can continue in office.
Putin is enjoying Dilma's work and has shown support for a new term for former Brazilian president Dilma Rousseff as head of the New Development Bank (NDB), the BRICS bank, an institution she has led since April 2023, reports G1.
The bank's presidency rotates and is periodically occupied by a representative of one of the group's countries, and in July 2025, Russia will make the next nomination. The country may give up having a name from its own country to keep Dilma in charge of the institution.
Dilma won the support of the Russians after defending the increase in trade in national currencies to minimize "external political risks", as Vladimir Putin described it, during a meeting attended by the president of the Russian Central Bank (BCR).
"An increase in payments in national currencies makes it possible to minimize external political risks", said Putin. The creation of an international payments system would be a counterpoint to SWIFT (Society for Worldwide Interbank Financial Telecommunication), from which most Russian institutions were excluded due to sanctions for the war against Ukraine.
Dilma is in charge of the NDB, which is one of the largest banks in the world, composed of a board of governors, a board of directors, a president and four vice-presidents, who are appointed by the BRICS member countries.
Her permanence will increase investments in Brazil, with colossal infrastructure projects, as determined by the BRICS strategic plan.
#XRPETFIncoming?
Putin is enjoying Dilma's work and has shown support for a new term for former Brazilian president Dilma Rousseff as head of the New Development Bank (NDB), the BRICS bank, an institution she has led since April 2023, reports G1.
The bank's presidency rotates and is periodically occupied by a representative of one of the group's countries, and in July 2025, Russia will make the next nomination. The country may give up having a name from its own country to keep Dilma in charge of the institution.
Dilma won the support of the Russians after defending the increase in trade in national currencies to minimize "external political risks", as Vladimir Putin described it, during a meeting attended by the president of the Russian Central Bank (BCR).
"An increase in payments in national currencies makes it possible to minimize external political risks", said Putin. The creation of an international payments system would be a counterpoint to SWIFT (Society for Worldwide Interbank Financial Telecommunication), from which most Russian institutions were excluded due to sanctions for the war against Ukraine.
Dilma is in charge of the NDB, which is one of the largest banks in the world, composed of a board of governors, a board of directors, a president and four vice-presidents, who are appointed by the BRICS member countries.
Her permanence will increase investments in Brazil, with colossal infrastructure projects, as determined by the BRICS strategic plan.
#XRPETFIncoming?
