Rousseff to continue as BRICS Bank head for another 5 years
Former Brazilian President Dilma Rousseff will continue to head the BRICS Bank. First named in 2023 for a term that would have ended in July this year, she had her new appointment confirmed by the head of the Secretariat for Institutional Relations, Gleisi Hoffmann.
“Congratulations, President Dilma Rousseff, on your reappointment as president of the New Development Bank. Under your leadership, the BRICS Bank has played a crucial role in the development of our countries,” Hoffmann posted on her social media.
The invitation for Rousseff to continue at the head of the New Development Bank (NDB) for the next five years had been made at the end of last year by Russian President Vladimir Putin, during the closing ceremony of the 16th BRICS Summit in Kazan, Russia. The move aimed to prevent the war between Russia and Ukraine from affecting the management of the financial institution.
Under the bank’s rules, nominations for the post rotate among the founding member nations of the BRICS—Brazil, Russia, India, China, and South Africa—for five-year terms. Following this criterion, the next appointment for the post in July this year would come from Russia.
The former Brazilian president took over as head of the bank in March 2023 in place of Marcos Troyjo, appointed by Jair Bolsonaro’s administration. The change of occupants was made after Luiz Inácio Lula da Silva took over the presidency of Brazil.
