Dilma praises meeting with Putin and says a multipolar world is only possible with trade in currencies other than the dollar

By Dilma Rousseff, on X – I met with President Vladimir Putin on Thursday, the 6th, in Russia, where I am once again participating in the St. Petersburg International Economic Forum. It was a conversation about the international scenario and the reconstruction of the new multilateralism and international order that reflects the multipolar world we live in.

We also discussed the direction of the BRICS Bank. President Putin and I were together at the creation of the New Development Bank during the BRICS Fortaleza Summit in July 2014. The bank has been working to provide the necessary investments for the economic and social development of its member countries. Since January, Russia has presided over BRICS.

During the meeting, I reiterated that we are a bank different from other existing multilateral financial organizations. We are a bank created by the countries of the Global South for the countries of the Global South. We also have another important characteristic: we do not impose conditions on our members.

Finally, we also discussed what is the main theme of the 2024 St. Petersburg Forum: without a multipolar economy, multipolarity is impossible. This is reflected in the role and use of national currencies. The NDB’s commitment has been to provide support and resources to member countries in their national currencies, reducing risks so they are not affected by exchange rate volatility.

I thanked Russia for its support of the bank and my management. We need a multipolar economy with new centers that can help withstand global shocks and crises. This will reduce the risk of global economic instability caused by problems in large economies.