04:44Russian President Vladimir Putin praised the work of the BRICS New Development Bank, saying it had become 'more organised and successful', during a meeting with the head of the financial institution Dilma Rousseff in St. Petersburg on Thursday.
"I have to note that the bank has managed to do a lot under your leadership this year. For the first time it has shown a significant net profit and, in fact, it is getting back on its feet and working in a more organised and successful manner," Putin said.
He also emphasised the need to continue 'the bank's further development' and its co-operation with Russia especially in the context of 'strengthening multipolarity and its economic basis'.
Rousseff, in her turn, stressed the need to settle in national currencies, adding that it was impossible to establish a 'multipolar world without a multipolar economy'.
"We are different from other banks. Our bank was created by the countries of the Global South for the countries of the Global South. Of course, a multipolar world is also reflected in national currencies, which is also another compromise and another commitment of the bank to attract and settle in national currencies. And this is very important for developing countries that don't have strong currencies of their own," Rousseff said.
SPIEF 2024, slated on June 5-8, is poised to attract a diverse assembly of participants from over 136 countries. Since its establishment in 1997, the forum has served as a prominent platform for global discourse on economic and business affairs, with the patronage and engagement of the Russian president since 2005.
BRICS' New Development Bank 'more organised and successful' - Putin
Russian President Vladimir Putin praised the work of the BRICS New Development Bank, saying it had become 'more organised and successful', during a meeting with the head of the financial institution Dilma Rousseff in St. Petersburg on Thursday.
"I have to note that the bank has managed to do a lot under your leadership this year. For the first time it has shown a significant net profit and, in fact, it is getting back on its feet and working in a more organised and successful manner," Putin said.
He also emphasised the need to continue 'the bank's further development' and its co-operation with Russia especially in the context of 'strengthening multipolarity and its economic basis'.
Rousseff, in her turn, stressed the need to settle in national currencies, adding that it was impossible to establish a 'multipolar world without a multipolar economy'.
"We are different from other banks. Our bank was created by the countries of the Global South for the countries of the Global South. Of course, a multipolar world is also reflected in national currencies, which is also another compromise and another commitment of the bank to attract and settle in national currencies. And this is very important for developing countries that don't have strong currencies of their own," Rousseff said.
SPIEF 2024, slated on June 5-8, is poised to attract a diverse assembly of participants from over 136 countries. Since its establishment in 1997, the forum has served as a prominent platform for global discourse on economic and business affairs, with the patronage and engagement of the Russian president since 2005.
Russian President Vladimir Putin praised the work of the BRICS New Development Bank, saying it had become 'more organised and successful', during a meeting with the head of the financial institution Dilma Rousseff in St. Petersburg on Thursday.
"I have to note that the bank has managed to do a lot under your leadership this year. For the first time it has shown a significant net profit and, in fact, it is getting back on its feet and working in a more organised and successful manner," Putin said.
He also emphasised the need to continue 'the bank's further development' and its co-operation with Russia especially in the context of 'strengthening multipolarity and its economic basis'.
Rousseff, in her turn, stressed the need to settle in national currencies, adding that it was impossible to establish a 'multipolar world without a multipolar economy'.
"We are different from other banks. Our bank was created by the countries of the Global South for the countries of the Global South. Of course, a multipolar world is also reflected in national currencies, which is also another compromise and another commitment of the bank to attract and settle in national currencies. And this is very important for developing countries that don't have strong currencies of their own," Rousseff said.
SPIEF 2024, slated on June 5-8, is poised to attract a diverse assembly of participants from over 136 countries. Since its establishment in 1997, the forum has served as a prominent platform for global discourse on economic and business affairs, with the patronage and engagement of the Russian president since 2005.