Dilma is elected president of the Brics bank – 03/24/2023 – Market

The NDB (New Development Bank), the bank of the group of emerging nations Brics, confirmed this Friday (24) the nomination of former president Dilma Rousseff for the presidency of the institution.

Upon assuming the presidency of the NDB, Dilma should receive a salary in excess of US$50,000 a month (equivalent to R$257,000), according to people with knowledge of the negotiations. The NDB is chaired on a rotating basis by the Brics countries, and Brazil’s mandate runs until 2025.

In addition to the founding countries of the bank —the members of the Brics—, the NDB also has the governments of Bangladesh and the United Arab Emirates as partners, which recently joined the body.

Dilma’s appointment to head the institution that finances infrastructure projects in the Brics countries involved an operation to remove Marcos Troyjo from the entity.

Appointed in 2020 by former Minister Paulo Guedes (Economy), Troyjo should remain in office until the end of the Brazilian mandate. But his proximity to the Jair Bolsonaro (PL) government and Lula’s willingness to place his ally in office made Troyjo’s permanence unsustainable.

Rousseff’s allies say she should live and work in Shanghai, the bank’s headquarters. The former president resisted the first polls to take over the Brics bank because she would stay away from her family in Brazil, but changed her mind.

The Brazilian government’s negotiations for the appointment of Dilma to the bank began at the beginning of the current government. At the time, Minister Fernando Haddad informed Troyjo that he should step down.

As shown to Sheet, Dilma held virtual meetings with finance ministers from the Bric countries. She should accompany Lula on his official trip to China, this Sunday (26).

Dilma has already stated that she wants Brazilian representatives in line with her vision of the economy at the institution and discussed with Lula the name of Vice President Geraldo Alckmin (PSB), who is also Minister of Development, Industry, Commerce and Services, for the council of governors, as shown by column Mônica Bergamo, from Sheet.

The idea would be to invite him to represent Brazil on the council as a kind of substitute for Minister Fernando Haddad (PT) —who, as head of the Treasury, is a member of the collegiate.

With Reuters