The head of the New Development Bank, founded by the BRICS countries, will be the former President of Brazil Dilma Rousseff. Relevant information was provided by the publication O Estado de S. Paulo.

The politician served as the head of state from 2011 to 2016. At the same time, Russia, China, Brazil, India and the Republic of South Africa acted as the founders of the new financial institution.

Dilma Rousseff will head the New Development Bank until 2025. The specified period corresponds to the end of the republic’s current mandate for leadership in the organization.

Former Brazilian Economist Esther Pereira dos Santos It evaluated the feasibility of establishing a single currency for settlements between BRICS member states. He considered this initiative as a logical step for the development of the association.