Dilma Rousseff’s term as head of the BRICS New Development Bank is scheduled to end in July 2025, and by common agreement the next presidency goes to a Russian. Rousseff has played a decisive role in the effort to have the NDB become “the great bank of the South,” as Brazilian President Lula called it, by breaking out of the speculative dollar straitjacket to raise funds and issue credit for great infrastructure development projects in national currencies—and possibly a new BRICS currency as well, which would not replace the existing national currencies of the BRICS nations, but serve to provide a credit platform for all.
There has been much speculation about who from Russia would replace Rousseff. But that may not happen—because of the intervention of Russian President Vladimir Putin. In his closing press conference in Kazan, Putin reported:
