May 23, 2024

Brighton Journal

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Lula da Silva asked Cristalina Georgieva to give Argentina time to comply with its agreement with the International Monetary Fund.

Lula da Silva asked Cristalina Georgieva to give Argentina time to comply with its agreement with the International Monetary Fund.
Luiz Inacio Lula da Silva, President of Brazil (REUTERS)

Luis Inacio Lula da Silva It maintains its commitment to support the government of Alberto Fernández in the face of the economic crisis. During the meeting with the owner International Monetary Fund (IMF), Kristalina GeorgievaBrazil’s president asked for “time” to comply with Argentina’s debt payments.

Lula and the managing director of the Multilateral Credit Organization met on Saturday Hiroshima, JapanWithin the framework of G7 Summit The President of South America was invited. “I asked the IMF director understanding Argentina suffered a drought after the epidemic that destroyed 25% of its agricultural production and weighed heavily. I told him Argentina had no conditions now No need to push her. Argentina should be given some time to recover. I hope you understand that,” da Silva told a press conference.

Touting Argentina’s recovery as one of the pillars of Brazil’s international trade, Lula reiterated that he would negotiate aid for Argentina. New Development BankFinancial institution Brix, led by former President Dilma Rousseff. In this framework, he explained the objective of demonetizing international trade and defended the idea of ​​a common currency to negotiate foreign trade in South America and a euro-like currency among the BRICS.

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Lula’s proposed meeting with Georgieva for Argentina in Hiroshima lasted about 30 minutes. In this way, he keeps the promise he made earlier in the month with Alberto Fernandez during a meeting in Brasilia. Brazilian exporters have collection problems due to lack of dollars at the central bank.

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“The external debt of many countries that victimized Brazil in the past, and today destroys Argentina, is the cause of stark and growing inequality that requires treatment by an IMF that considers the social consequences of adjustment policies,” said the Brazilian president.

”Argentina is our third trading partner, the first in Latin America and the destination of our manufacturers; We want our companies to continue selling to Argentina.He promised.

In this sense, China has made agreements with Argentina to increase its reserves in yen so that it can finance its exports without depending on the dollar, he stressed. “I dream of creating many other currencies so as not to be dependent on the dollar. I hope that the BRICS bank will create a currency like the euro, for which we must create the political and economic conditions. In Japan, da Silva stressed that he is trying to avoid a “new cold war” between the United States and China.” The Cold War has already happened after World War II and I don’t want it to happen again between China and the US, we are subject to disputes between the two and we want economies that are free to negotiate and trade. “Every country can like whoever it wants,” he assured.

Last week, Brazil’s economy minister, Fernando Haddadwho asked the US Treasury Secretary on Lula’s behalf, Janet YellenThat administration Joe Biden Recommending assistance to Argentina in renegotiation with the IMF.

Haddad will also travel to the BRICS Bank meeting in Shanghai on May 30 and 31. There it will be discussed changing an article of the law that prohibits the use of the contingency fund by countries that are not full partners. of the Multilateral Forum. This point is important for the new development bank to act as a financial guarantee for imports from Brazil to Argentina. Sergio Massa will travel to open this point and move forward with his determination.

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With information from Telam Agency.

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Lula da Silva met with the head of the International Monetary Fund and said “debt is destroying Argentina.”
The Brazilian government asked the United States for help in recommending Argentina in renegotiations with the IMF.