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Speech by the NDB President Mrs. Dilma Rousseff, at the Third Belt and Road Forum for International Cooperation, Beijing, China, October 18, 2023

· Dilma Rousseff, President of the New Development Bank (BRICS) (International)

Summary written by Dark Majestic in its own words · topics: development and emerging economies

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· Dilma Rousseff Wiki · New Development Bank (BRICS) WikiSpeech by the NDB President Mrs. Dilma Rousseff, at the Third Belt and Road Forum for International Cooperation, Beijing, China, October 18, 2023

ContextSpeech at the third Belt and Road Forum in Beijing, before China's President and heads of state; the New Development Bank funds infrastructure in emerging economies and seeks cooperation partners.

Why it mattersRousseff seeks local-currency funding to reduce dollar risk for borrowers.

Problems raised
  1. Developing countries need large infrastructure finance.
  2. Securing enough resources is hard.
  3. Dollar funding creates currency risk.
Solutions proposed
  1. Raise funds in local currencies.
  2. Expand the NDB's capital base with new members.
  3. Cooperate with the Belt and Road Initiative.
Read full speech on ndb.int ↗

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