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Bank of the BRICS ready to open its doors to Algeria

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At least, that is what the president of this multilateral financial institution, which is increasingly establishing itself as a counterweight to the current international financial system - namely, the Bretton Woods system, the International Monetary Fund, the World Bank, and its various subsidiaries.

Having been nominated to lead the NDB last March, Dilma Rousseff, a former Brazilian president who is close to the iconic Lula, Brazil’s current president, “welcomes” Algeria’s application to join the international financial institution, which has an enormous $100 billion registered capital.

In a meeting she had with Finance Minister Laâziz Faïd on the sidelines of the summit for a new global financial compact, held in Paris on June 22-23, Rousseff assured that the NDB presidency and board members “welcome” Algeria’s application to join their institution, according to an official statement released yesterday by the Ministry of Finance.

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Bank of the BRICS ready to open its doors to Algeria

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