A timely change will occur in the presidency of the BRICS New Development Bank (NDB), as a new stage for that institution begins with its expansion into the BRICS Plus in the months ahead. Marcos Troyjo, who served as Deputy Economy Minister in the disastrous Jair Bolsonaro government in Brazil and was named by Bolsonaro in 2020 to serve a five year term as President of the NDB, will step down early this coming March 24. He will be replaced by Brazilian President Lula da Silva’s choice for the job, former Brazilian President Dilma Rousseff, for the remainder of Brazil’s rotating mandate as head of the bank, which expires in July 2025. Rousseff is known for her strong advocacy of Brazil’s role in the BRICS and her rejection of neoliberal economics.
The formality of a vote by the Board of Governors of the New Development Bank is still required, but Brazil’s Globo.com and other media report that Rousseff has held virtual meetings over the last few days with all of the Economics Ministers of the BRICS countries, which is part of the confirmation process.
