At the G-7, the president reiterated that the common currency among the BRICS countries can reduce dependence on the dollar in trade
SPECIAL ENvoy TO HIROSHIMA – The President Luiz Inácio Lula da Silva once again defended the creation of a common currency among the countries of the bric – Brazil, Russia, India, China and South Africa – in the same mold as the euro, as a means of reducing dependence on the dollar in trade.
The euro, on the other hand, is a single currency used among European countries, while the finance minister, Fernando Haddad, usually defends a common currency exclusively for commercial transactions, in a sort of clearing house to replace the dollar.
“It is not possible to depend on the dollar for foreign trade […]. We will have to discuss the Brics currency sooner or later”, said the president at a press conference in Hiroshima, at the end of his official trip to Japan to participate in the G-7.
Lula once again defended aid to Argentina, a trading partner that is a destination for Brazilian exports and is facing a severe economic crisis under the government of leftist Alberto Fernández.
At the G-7, Lula met with the managing director of the International Monetary Fund (IMF), Kristalina Georgieva, and asked for relief from the pressure on Argentina’s debts.
“I spoke to the IMF director about the situation in Argentina and asked her to understand why, after the pandemic, Argentina faced a drought. Let’s give Argentina some time to recover,” Lula said. “Our companies must continue to sell in Argentina,” she added.
Brazil and Argentina are also negotiating the creation of a common currency to reduce dependence on the dollar. “I want an economy where everyone can negotiate with whoever they want,” the president said.
Source: Terra
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