Former Brazilian Leader Elected President of Multilateral Bank NDB

What’s new: Former Brazilian President Dilma Rousseff has been elected president of the New Development Bank (NDB), a supranational bank set up by Brazil, Russia, India, China and South Africa (BRICS).

Rousseff, an economist and first female president of Brazil, succeeds Marcos Troyjo as head of the Shanghai-headquartered development bank. She was elected “unanimously” by the bank’s Board of Governors, the NDB said in a statement Friday.