Dilma criticizes the “unfair” global financial system and highlights the rise of BRICS as an engine of transformation (video)

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247 – The head of the New Development Bank (NBD), also known as the BRICS Bank, Dilma Rousseff, criticized the current global financial system and highlighted the rise of the emerging bloc as a factor that could reverse what she called “injustice.”

“The power of the BRICS countries has already grown rapidly, which is a good basis for understanding the power that underpins multilateralism. Measured in terms of purchasing power parity, the BRICS countries already account for 31.5% of global GDP, surpassing the G7 countries,” Dilma said during her speech at the World Government Summit. In Dubai, United Arab Emirates, where she was one of the prominent guests, representing 30.8%.

She stated that the trend is to increase the weight of the BRICS group in the global economy. “Even with the difficulties related to the unfair international financial system and the large debts of developing countries, the IMF figures are a good example of this new trend,” he said.

On January 1, Egypt, Ethiopia, Iran, the United Arab Emirates and Saudi Arabia officially became full members of the BRICS. Before that, the bloc consisted of Brazil, Russia, India, China and South Africa.

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