MercoPress. South Atlantic News Agency

Rousseff to stay at BRICS Bank helm for 5 more years after Moscow's nod

Putin preferred to leave Rousseff rather than appoint a Russian official given his country's restrictions stemming from the war in Ukraine

Former Brazilian President Dilma Rousseff will remain at the helm of the BRICS bloc's Shanghai-based New Development Bank following Vladimir Putin's green light, Agencia Brasil reported citing Brasilia's newly-appointed Secretary for Institutional Relations Gleisi Hoffmann. Rousseff's term was to end in July this year.

“Congratulations, President Dilma Rousseff, on your reappointment as president of the New Development Bank. Under your leadership, the BRICS Bank has played an important role in the development of our countries,” Hoffmann posted on social networks.

Rousseff's nomination to stay in charge of the NDB for the next five years had already been signaled by Putin late last year, Agencia Brasil also pointed out.

As per NDB rules, the bank's president should rotate every five years among nationals of the group's founding members (Brazil, Russia, India, China, and South Africa), with Moscow next in line to appoint Roussef's successor.

However, during the closing ceremony of the 16th BRICS Summit in Kazan, Russia, Putin already suggested nominating Rousseff, as a strategy to avoid “transferring all the problems [that due to the war with Ukraine] are associated with Russia.”

Brazilian President Luiz Inácio Lula da Silva chose Rousseff after being inaugurated for the third time. She took over in March 2023 from Marcos Troyjo, a fellow Brazilian designated during the Jair Bolsonaro years.