Dilma Rousseff will head the group’s New Development Bank until the end of Brazil’s presidency in 2025
Former Brazilian head of state Dilma Rousseff has been named as the next president of the BRICS group’s New Development Bank after Brazil won the backing of its partners for the appointment on Friday.
The nominee was agreed by Brazil’s government, which is currently headed by Luiz Inacio Lula da Silva. Rousseff, who served as the president of Brazil between 2011 and 2016, will replace Brazilian diplomat Marcos Troyjo, who was appointed by the country’s previous leader Jair Bolsonaro.
Rousseff will hold the position until the end of the current Brazilian mandate in the bank’s management in 2025, and is expected to accompany President da Silva during his visit to China scheduled for March.
The BRICS nations – Brazil, Russia, India, China and South Africa – are working to develop their own financial infrastructure, including a joint payment network, with some member states having already switched to trade in local currencies in order to reduce dependence on the US dollar and euro.
The five BRICS economies currently account for more than 40% of the world’s population and nearly a quarter of global GDP.
https://www.rt.com/business/571321-brics-bank-brazil-dilma-rousseff/
The European Commission has announced plans to “strengthen” the borders of nine member states
The European Commission unveiled a strategy on Wednesday to reinforce nine EU member states bordering Russia, Ukraine, and Belarus, by means of the ‘European Drone Defense Initiative’. Previously dubbed the ‘drone wall’, the plan has faced criticism over its feasibility.
Russia has repeatedly dismissed Western claims of being a threat to NATO or EU nations, calling the narrative “nonsense” and “fearmongering” meant to justify inflated military budgets.
Announced by the commission’s executive vice president, Raffaele Fitto, the plan includes Finland, Estonia, Latvia, Lithuania, Poland, Slovakia, Hungary, Romania, and Bulgaria. Brussels says that these nations are facing reduced investment, demographic pressure, and “hybrid” threats linked to the Ukraine conflict.
The new strategy includes a €28 billion ($33 billion) loan program, as well as commitments to implement ...
Washington’s initiative seeks to secure a supply chain for AI, semiconductors, and critical minerals
India has joined the US-led Pax Silica alliance, which aims to secure a supply chain for artificial intelligence, chips, and critical minerals.
The Pax Silica declaration was signed on the sidelines of the AI Impact Summit currently underway in New Delhi.
Australia, Greece, Israel, Japan, Qatar, South Korea, Singapore, the UAE, and the UK are the other signatories of the declaration, according to the US State Department.
Canada, the European Union (EU), the Netherlands, the Organization for Economic Cooperation and Development (OECD) and Taiwan are non-signatory participants.....more below
