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Brazil Aims to Discuss Assistance to Argentina With BRICS, IMF - President
Brazil Aims to Discuss Assistance to Argentina With BRICS, IMF - President
Sputnik International
Brazil is planning to discuss the issue of assistance to Argentina, which is experiencing a severe economic crisis, with the BRICS informal group of states and the IMF, Brazilian President Luiz Inacio Lula da Silva said.
2023-05-03T03:46+0000
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"We have already talked to the BRICS countries and will continue to talk to BRICS to see how we can help Argentina," Lula told journalists after the meeting with Argentine President Alberto Fernandez. The Brazilian president added he was also planning "through my Finance Minister [Fernando Haddad] to turn to the IMF to remove this knife [debt obligations] from Argentina's throat." He noted that Brazil stands ready to aid Argentina, adding that the issue will be discussed with the country's businesspersons and parliament. Argentina faces $44 billion in debt to the IMF. In June 2018, the IMF approved a $50 billion standby loan to Argentina to help the country reduce its budget deficit amid soaring inflation. In October 2018, the fund agreed to increase the size of the financing program to $56.3 billion. However, the deal was renegotiated in 2021 to $44 billion.
https://sputnikglobe.com/20230314/argentinas-severe-inflation-rate-surpasses-100-for-first-time-in-over-30-years-1108400918.html
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brazil, brazilian president luiz inacio lula da silva, international monetary fund, imf, brics, economic crisis, argentina, severe inflation,
brazil, brazilian president luiz inacio lula da silva, international monetary fund, imf, brics, economic crisis, argentina, severe inflation,
Brazil Aims to Discuss Assistance to Argentina With BRICS, IMF - President
BUENOS AIRES (Sputnik) - Brazil is planning to discuss the issue of assistance to Argentina, which is experiencing a severe economic crisis, with the BRICS informal group of states and the International Monetary Fund (IMF), Brazilian President Luiz Inacio Lula da Silva said on Tuesday.
"We have already talked to the BRICS countries and will continue to talk to BRICS to see how we can help Argentina," Lula told journalists after the meeting with Argentine President Alberto Fernandez.
The Brazilian president added he was also planning "through my Finance Minister [Fernando Haddad] to turn to the IMF to remove this knife [debt obligations] from Argentina's throat."
"The IMF cannot continue to put pressure on a country that just wants to grow, create jobs, and improve the lives of its citizens," Lula said.
He noted that Brazil stands ready to aid Argentina, adding that the issue will be discussed with the country's businesspersons and parliament.
Argentina faces $44 billion in debt to the IMF.
In June 2018, the IMF approved a $50 billion standby loan to Argentina to help the country reduce its budget deficit amid soaring inflation. In October 2018, the fund agreed to increase the size of the financing program to $56.3 billion. However, the deal was renegotiated in 2021 to $44 billion.
