LatinNews Daily - 24 March 2025

*Brazil’s former president Dilma Rousseff (2011-2016) has announced that she has been re-elected as the head of the New Development Bank (NDB), the multilateral bank run by the Brics group of developing economies, and reaffirmed the bank’s commitment to investing in transport infrastructure in South America. The Brics group originally comprised Brazil, Russia, India, China, and South Africa, before expanding its membership in recent years. It was in 2015, when Rousseff was president of Brazil, that the NDB was officially set up, and she has been leading the Brics bank since 2023 when she replaced Marcos Troyjo, whose candidacy was promoted by the previous administration led by Jair Bolsonaro (2019-2023). Troyjo held the post since 2020 and resigned after the current government led by President Luiz Inácio Lula da Silva took office. Speaking to journalists in Beijing yesterday, Rousseff said that she will serve another five years as the NDB’s president. She also highlighted that Brazil will host the 2025 Brics leaders’ summit in July, when the NDB will unveil more details about investments in initiatives aiming to facilitate trade between Brazil and China, such as a railway connecting Brazil to South America’s Pacific coast.

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