https://en.sputniknews.africa/20230503/brazil-aims-to-discuss-assistance-to-argentina-with-brics-imf-president-1058999245.html
Brazil Aims to Discuss Assistance to Argentina With BRICS, IMF
Brazil Aims to Discuss Assistance to Argentina With BRICS, IMF
Sputnik Africa
Brazil is planning to discuss the issue of assistance to Argentina, which is experiencing a severe economic crisis, with BRICS and the International Monetary Fund, Brazilian President Luiz Inacio Lula da Silva said on Tuesday.
2023-05-03T07:57+0200
2023-05-03T07:57+0200
2023-08-03T10:48+0200
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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 that he was also planning via his "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.
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international monetary fund, brazilian president, luiz inacio lula da silva, alberto fernandez, $44 billion in debt, bric group, bilateral cooperation, mutually beneficial, financial aid, financial assistance, brics bloc, brics countries
international monetary fund, brazilian president, luiz inacio lula da silva, alberto fernandez, $44 billion in debt, bric group, bilateral cooperation, mutually beneficial, financial aid, financial assistance, brics bloc, brics countries
Brazil Aims to Discuss Assistance to Argentina With BRICS, IMF
07:57 03.05.2023 (Updated: 10:48 03.08.2023) 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 that he was also planning via his "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.
