Brazilian President Luiz Inácio Lula da Silva said he prays that in the upcoming elections Argentina elects a president that will “defend social inclusion and development.”He added that the International Monetary Fund (IMF) needs to have “patience” in its renegotiations with the country regarding the US$44 billion debt former President Mauricio Macri acquired in 2018. That [they] elect a candidate that favors social inclusion and development, and not someone who believes that all public policies are useless spending, or that Argentina’s problems can be solved through privatization,” Lula said during a breakfast with foreign correspondents in the Presidential Palace in Brasilia. Regarding the IMF, Lula da Silva said that it needs to be reformed, proposing the aim should be to create institutions that are more “flexible and generous” with countries that receive loans. The IMF should be patient,” Lula said, adding that the drought has impeded the country from obtaining the foreign currency it usually obtains from agricultural exports. He even mentioned that he has discussed the matter with Chinese President Xi Jinping.

Source: Bueno Aires Herald August 03, 2023 18:56 UTC