Speaking as a guest at the G7 Summit in Hiroshima, Japan, Brazilian President Luiz Inacio Lula da Silva said today that the payment conditions imposed by the International Monetary Fund (IMF) on Argentina’s foreign debt are “destroying” the country. The Brazilian President is the only Latin American leader who was invited to the G7 summit, the annual gathering of the intergovernmental forum formed by the United States, Canada, the United Kingdom, France, Germany, Italy and Japan. The Brazilian government said that Lula da Silva also told IMF Managing Director Kristalina Georgieva that Argentina’s economic situation is a key element in order to maintain “regional balance” in South America. “Argentina’s situation was the main topic discussed at the meeting between Lula and the head of the IMF, which lasted 30 minutes,” sources of the Brazilian government told Télam. He made this offer after his initial idea of diverting funds from National Bank for Economic and Social Development, a developmental bank associated with the Brazilian Economic Ministry, to finance state-to-state guarantees for exports failed to receive support from his government.

Source: Bueno Aires Herald May 21, 2023 02:42 UTC