The board of the BRICS-led New Development Bank (NDB) will hold a vote for the incorporation of Argentina in August, the entity’s president Dilma Rousseff told Economy Minister Sergio Massa in Shanghai today. Massa was joined by the head of the Central Bank, Miguel Ángel Pesce, and National Deputy Máximo Kirchner. Rousseff also said that Argentina’s incorporation into the NDB will be expressly put forward and defended by Brazil. Yesterday, Brazilian President Luiz Inácio Lula da Silva said that it would be difficult for Brazil to secure financial support for Argentina via the BRICS bank because of regulations that limit the organization from supporting countries that are not member states. Over the past few years, BRICS members have supported Argentina’s entry into the alliance, including explicit backing from the Chinese government.

Source: Bueno Aires Herald June 01, 2023 21:25 UTC